They Recovered $160M After A Hack…But Will It Fix Everything? Spoiler: Probably Not

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  • $160 million recovered and secured in a multisig wallet after the Cetus hack. Seriously, they found it!
  • The community overwhelmingly approved the recovery plan. No drama here—just trust and votes.

So, here’s a fun little twist: Cetus managed to get back around $160 million in stolen assets, and guess what? They put it in a secure multisig (that’s “multi-signature” for us non-techies) wallet. Kind of like putting your lunch money in a safe with a million locks, right?

It’s a solid move, one that marks a huge milestone in the aftermath of the Cetus hack. If only recovering from a terrible haircut were this easy.

Cetus’s Recovery Plan – Phase One: Make Sure the Money’s Not Stolen Again

After a totally legal, on-chain vote (we’re not talking about picking pizza toppings here), Cetus, the Sui Foundation, and OtterSec—yes, they’re the security experts—are now holding the key to the vault. It’s like the Avengers, but for digital currency.

In a stunning update, Cetus reassured the community, saying they’re “making progress” after the exploit. I mean, that’s like telling someone your soufflé “just needs a little more time” after it collapsed. But hey, progress is progress!

And here’s the cherry on top:

“With the funds secured, Cetus has officially entered the next phase of the recovery process.”

Because, of course, there are phases. Like a really expensive Netflix series. But it gets better:

“Our team is fully mobilized and working around the clock to execute the roadmap we shared earlier—contract upgrades, liquidity restoration, and preparations for relaunch.”

Sounds like a lot of buzzwords, but we’re all for it. Keep those contracts upgraded, people!

Community Vote and Reactions – It’s Like A Poll, But With Money

On June 2nd, Cetus Protocol will have a public chat on X (formerly Twitter), where they’ll spill the tea on the recent security breach. The team will explain everything—from what went wrong to how they plan to fix it. It’s like a live commentary of a disaster movie, but with fewer explosions.

And they’ll be answering your burning questions, because nothing says “we care” like a Twitter thread in the middle of a crisis.

One X user said it best:

“good news deserves attention.”

Another user, clearly a fan of transparency (and probably cake), added:

“As a Cetus user, I appreciate the transparency and timely update. Let’s fix this asap.”

And because it’s 2025, we have to mention the power of community governance. 90.9% of Sui network stakeholders were like, “Sure, let’s get those funds back to safety,” which sounds like a majority vote you wouldn’t want to argue with.

The vote closed early (a sign of no-nonsense decision-making), approving the transfer of the compromised funds to a secure multisig wallet. It was like a group project where everyone actually does their part. What a dream!

Market Trend – Spoiler: It’s Not Great, But We’re Fine!

But wait—while Cetus is busy securing money and promising to restore things, the market’s like, “Yeah, I don’t know, I’m feeling kind of down about this whole thing.”

At press time, Cetus Protocol [CETUS] dropped to $0.1329, down 7.19% in 24 hours, 17.87% over the past week, and a dramatic 38.46% in the last month. So, no, it’s not exactly a victory lap for the tokens.

And SUI? It’s down 9.15% in the last day. Not ideal, but it’s okay. Life’s like that sometimes. You just have to keep going even when things feel a little… unproductive.

Yet, despite this total market “meh,” the Cetus team remains undeterred, like a puppy in a rainstorm. Their commitment to transparency and recovery is unwavering, even as they swim through this rough sea of negativity.

And let’s finish with their words, because they say it best:

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2025-06-01 08:44