The Road to Recovery for Cetus Exchange: From Crisis to Rebirth

In June 2025, Cetus Exchange experienced a $220 million hack, damaging the liquidity pool and shaking market confidence. However, the phrase 'What does not kill me makes me stronger' seems to describe Cetus. After the attack, Cetus quickly took action, freezing $162 million in assets through Sui network governance voting (90.9% approval) to compensate affected users. The compensation plan has been initiated, and the liquidity pool has gradually recovered to 85%-99%, while the NFT proof system ensures transparency, demonstrating the team's determination.

As of June 24 at 8:26 AM, Cetus's 24-hour trading volume was approximately $15 million to $22 million. Although it has not returned to the pre-incident monthly trading volume of $715 million, the activity of the USDC/SUI trading pair indicates strong demand for stablecoin trading. The price of CETUS tokens has rebounded from a low of $0.09 to $0.12, an increase of about 25%, reflecting a partial return of user confidence. However, the low TVL and security concerns have led some to adopt a wait-and-see attitude.

In the future, Cetus's recovery depends on the progress of compensation, audit results, and improvements in governance transparency. While the hacking incident was a crisis, it also sparked the platform's drive for self-improvement. If it can operate stably, Cetus may reshape its position in the Sui ecosystem. This test may indeed make it stronger.