- Sui backs Cetus with $5M bounty after exploit.
- $223 million involved in exploit incident.
- $162 million frozen, $60 million unaccounted.
Sui Foundation supports Cetus Protocol’s $5 million bounty after a $223 million exploit on May 22, 2025, on the Sui network.
The incident highlights centralization concerns and raises questions about blockchain security, affecting Sui’s market perception.
Security Breach Details
A significant security breach on May 22, 2025, saw Cetus Protocol on the Sui network compromised by $223 million. Sui Foundation stepped in, providing financial support for a $5 million bounty to locate the hacker. Cetus Protocol and Inca Digital initiated the bounty, emphasizing collaboration after a $6 million white hat offer was initially extended to the attacker. The attack impacted the Sui token’s value significantly, shaking investor confidence.
Response and Collaboration
Following the exploit, the team froze $162 million, raising centralization and security concerns as noted by industry observers. Industry commentary has urged an evaluation of layer-1 blockchain security assumptions. Future evaluations may focus on enhancing security protocols across decentralized exchanges, potentially leading to regulatory scrutiny and technological innovations to prevent similar exploits. The community’s focus remains on enhancing transparency and governance structures.
In light of the recent security exploit involving the Cetus Protocol, we feel it is our responsibility to contribute to the recovery efforts. The $5 million bounty is a part of our ongoing commitment to enhancing security within the Sui ecosystem. — Sui Foundation, Official Announcement, Sui Foundation, CryptoSlate
