Cetus Protocol Demands DAO Vote to Recoup $162M Lost in Sui Network Exploit

DeFi’s latest nine-figure hack sparks urgent governance showdown—because what’s crypto without a little decentralized drama?

After attackers drained $162 million from its liquidity pools, Cetus turns to its community in a high-stakes recovery bid. The move highlights DeFi’s recurring theme: innovate fast, beg for mercy later.

Bonus jab: At least the exploit didn’t involve a ’rug pull’—this time, the thieves did the honest work of stealing outright.

Following a $223 million hack that affected the Sui ecosystem, decentralized exchange Cetus has proposed a recovery plan to recover $162 million frozen in the hacker’s wallets. This plan depends on a community vote, needing over 50% participation and majority support to approve a protocol upgrade that WOULD override the attacker’s control. If successful, the funds will be moved to a multisig wallet managed by Cetus, the auditing firm OtterSec, and the Sui Foundation. SUI holders can delegate their votes to validators to help decide the outcome.