"๐ฅ Cetus Strikes Back: $29M SUI Hack Met with Full Compensation & Bold Recovery Plan!"โก
The Sui ecosystem just faced a massive test โ and Cetus Protocol is stepping up like a true DeFi hero. Here's what you need to know:
๐ฅ The Hack
$29M in $SUI was stolen in a targeted attack โ bridged to Ethereum and laundered via Tornado Cash. The wallets holding $160M+ are now blacklisted.
๐ ๏ธ Rapid Recovery Plan
โ Cetus Protocol will use its treasury reserves to fully cover user losses.
๐ฐ Sui Foundation is backing the effort with a secured loan to speed up compensation.
๐ณ๏ธ A community vote may unlock blacklisted hacker funds โ turning losses into future gains.
๐ SUI Ecosystem Still ๐ฅ
Despite the exploit:
TVL is $2B+ and growing
Cetus TVL: $227M | Daily Volume: $37M
New stable coins, wallets & protocols are surging on Sui
Cetus isnโt just recovering โ itโs reinforcing trust in DeFi.
This is how ecosystems survive โ and thrive.
