After suffering a major setback from a recent security breach, Cetus Protocol (CETUS) is now set to make a bold comeback. The full relaunch is scheduled for June 9, 2025 at 06:00 UTC, and all eyes are on how the market will react.
๐ง Over the past two weeks, the Cetus team has worked around the clock to implement a comprehensive recovery plan, guided by community governance and on-chain voting. Hereโs whatโs been done:
โ Asset Recovery:
Partial asset recovery through treasury rebalancing.
$7 million committed from the Cetus treasury.
Backing from Sui Foundation with a massive $30 million USDC loan.
๐ธ Compensation Plan:
15% of total CETUS supply allocated for affected users.
5% to be released at relaunch.
Remaining 10% to vest linearly over 12 months.
๐ก๏ธ The exploit was traced back to a vulnerability in an open-source CLMM library, which was used to drain liquidity pools via advanced on-chain manipulation techniques. The affected pools have now been restructured.
๐ฃ "Weโre grateful to our community for the support. Weโre coming back stronger โ with better security and full functionality," said the Cetus team via Medium.
๐ญ Will CETUS see a strong rebound post-launch? Or is this just a temporary relief pump?
Let me know your thoughts ๐
#CETUS #AltcoinRecovery #DeFi#SuiNetwork #CryptoNews #BinanceSquare #BinanceSquare $CETUS $SUI
