Sui DEX Cetus Relaunches After $220 Million Exploit, Enters Top Ten
Sui Protocol's decentralized exchange (DEX) Cetus has relaunched after a $220 million exploit last month. Key developments include:
- Cetus is now among the top ten DEXs by trading volume.
- The protocol will transition to open-source soon.
- After the attack, Cetus froze $162 million of stolen assets and is pursuing legal action against the attacker.
- Recovery rates for affected liquidity pools are between 85% and 99%.
- Cetus has allocated 15% of its native token supply for compensation to affected users.
To restore liquidity, Cetus used $7 million from reserves, secured a $30 million USDC loan, and utilized recovered assets. The CETUS token is currently trading at $0.1193 with a 17% drop in daily volumes post-hack.