Sui Foundation Backs Cetus Protocol After $223M Hack, Plans Full User Reimbursement

The Cetus protocol faces a critical moment following a $223 million exploit, with the sui Foundation stepping in to stabilize the situation. A secured loan from the foundation, combined with Cetus’ treasury, aims to ensure full reimbursement for affected users—particularly those with assets bridged off the Sui network.

"Using our cash and token treasuries, we are now in a position to fully cover the stolen assets," the foundation stated. The recovery hinges on a pending community vote to unlock the necessary funds.

Market sentiment shows cautious optimism. "Finally some good news for memecoins on Sui," remarked one X user. Samuel Xeus, Founder of The Nirvana Academy, echoed the relief, though questions remain about the feasibility of a community-driven resolution.

Institutional interest in SUI appears undeterred. Nasdaq’s recent filing for a Sui ETF signals growing confidence in the network’s long-term viability, potentially paving the way for broader retail adoption.