The post Sui DeFi Exchange Cetus Back in Action After $233 Million Exploit appeared on BitcoinEthereumNews.com.

In brief Sui’s leading decentralized exchange, Cetus Protocol, is back up and running following an exploit. Cetus used a loan from the Sui Foundation, recovered funds, and its cash reserves to rectify losses. The protocol is offering CETUS tokens to affected users as a compensation for liquidity losses. Cetus Protocol, the leading decentralized exchange on the Sui blockchain, is officially back online after a malicious oracle attack led to an exploit of $233 million in May.  The exploit, which sent multiple SUI-based tokens tumbling 70-90%, manipulated price curves and reserve calculations, allowing the attacker to remove liquidity from pools on the DEX.  “The attacker exploited a vulnerability in a CLMM-dependent open source library, drained assets from our major pools, and conducted a large number of on-chain swaps, severely disrupting pool prices and balances,” the platform wrote in a Saturday blog post. “Since the incident, we’ve taken decisive steps to ensure the security of the protocol, recover assets, and prepare for a safe relaunch,” the post noted. 🌊 The Final Countdown Has Begun. Cetus will officially relaunch in just a few hours. Ahead of that, we’re unveiling our complete Recovery Plan and what’s next for the protocol. 🐳 This isn’t just about recovery or bouncing back — it’s about resilience, rebuilding, and an… pic.twitter.com/VNejffrjbS — Cetus🐳 (@CetusProtocol) June 7, 2025 Those steps included retrieving around $162 million in funds frozen from the attack via a community governance vote, receiving a $30 million bridge loan from the Sui Foundation, patching vulnerabilities, and developing a compensation plan to address user losses.  Using the bridge loan from the Sui Foundation, 100% of the company’s cash reserves, and the recovered assets from the exploit, the company has now returned all affected liquidity pools to a healthy state, earning liquidity recovery rates of between 85-99% for…

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Filed under: News - @ June 10, 2025 12:25 am