The Cetus Protocol team, the largest decentralized exchange (DEX) on the blockchain $SUI
presented a recovery plan after the hack on May 22, 2025, which resulted in the theft of $223 million. Thanks to the prompt actions of Sui validators, $162 million of the stolen assets were frozen. After community voting, the frozen funds will be transferred to a multi-signature wallet, and Cetus will begin activating the emergency liquidity pool and restoring user data. A complete restart of the protocol is scheduled within a week from May 29, and the smart contract for compensations will undergo an audit before launch.
The Sui Foundation provided Cetus with a loan for 100% compensation of losses, which depends on the outcome of community voting. The team has already resumed work on the aggregator and is developing a compensation plan, including the use of reserves and loans. Despite criticism from experts such as ZachXBT for controversial recovery methods, Cetus strives to maintain decentralization without altering the blockchain history.
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