Cetus Protocol Relaunches with Security Overhaul After $223M Hack

Cetus Protocol unveils a recovery roadmap following a devastating $223 million exploit, prioritizing enhanced security measures and user compensation. The decentralized exchange's CETUS token fell 7% on the announcement day, extending losses since May.

The remediation plan taps sui Foundation's $30 million loan alongside company reserves to restore 85-99% of liquidity providers' positions. A new bug bounty program incentivizes community participation in security improvements, while the team transitions to full open-source development.

Technical analysis confirms the breach stemmed from flawed math logic in Cetus' codebase rather than vulnerabilities in Sui Network's MOVE language. The relaunch strategy focuses on regaining trust through transparent fund restoration and upgraded monitoring systems.