The crypto world was rocked in May 2025 as hackers made off with a staggering $244.1 million across 20 major incidents. 😨 While that number is alarming, it's actually 39% lower than the $400M+ lost in April. Still, May proved that Web3 remains a high-stakes battlefield. ⚔️💰
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💥 The Cetus Protocol Exploit – $223M Vanishes!
The biggest blow came from the Cetus Protocol, a decentralized exchange (DEX) running on the Sui blockchain. 🚀 Hackers exploited a vulnerability in Cetus’ smart contract overflow checks, draining $223 million in mere moments. 🧨🔓
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🛡️ The Fightback: $157M Recovered!
But all hope wasn’t lost. Thanks to swift action by Sui validators and the Cetus team, about $157 million of the stolen funds were frozen and clawed back—an impressive 71% recovery rate! 🧊💼
With community support, $162M worth of these recovered assets will be transferred to a multi-signature wallet jointly managed by Cetus, the Sui Foundation, and blockchain security firm OtterSec. 🗳️🔐
This wallet will oversee the safe reimbursement of affected users and help restore Cetus’ operations. 🙌💸
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🎯 Bounty Offered: Will the Hacker Take It?
In a bid to recover the rest, Cetus has offered the attacker a $6 million white-hat bounty 💰🕵️♂️—a common tactic in crypto circles to encourage the safe return of stolen assets. So far, there’s been no response.
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📉 May in Perspective
Despite the drama, the total amount hacked in May 2025 is significantly less than previous months, a sign that DeFi platforms may be slowly learning from past attacks. 📚✅
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🔐 Final Thoughts
The Cetus hack is a wake-up call—but also a testament to how fast and united a community can respond. 👥⚡ With tighter security, better audits, and community-driven protocols, the future of DeFi can still be bright. 🌞📈 #CryptoNews #DeFiSecurity #BlockchainUpdates #CryptoHack #SuiNetwork $SUI