- Cetus relaunches operations with financial support and recovery efforts.
- Invested $7M in reserves and secured $30M loan.
- Legal action pursued to recover remaining stolen assets.
Cetus Protocol resumed operations today at 9 AM (UTC+8), offering full services post-hack.
The restart marks a significant step after securing a $30 million USDC loan from the Sui Foundation and allocating $7 million of its reserves.
Cetus Protocol Secures $30M Loan for Post-Hack Recovery
Cetus Protocol has reactivated its platform, enabling trading and liquidity services after a major hack disrupted operations. The initiative includes reserving 15% of tokens for compensation, with 5% accessible immediately and 10% unlocking over one year beginning June 2025. This strategic recovery plan is bolstered by a $30 million USDC loan from the Sui Foundation and the team’s $7 million cash infusion. The recovery measures include taking legal action across various jurisdictions to retrieve assets.
Market reactions have remained cautious, with no immediate comments from leading industry figures or major governmental statements.
SUI Prices Drop 2.38% Amidst Cetus Reboot
Did you know? The Cetus Protocol incident is reminiscent of the 2022 Mango Markets exploit, highlighting ongoing security challenges in DeFi ecosystems and the critical role of institutional support in recovery efforts.
According to CoinMarketCap data on June 8, 2025, the Sui (SUI) token has decreased by 2.38% in the past 24 hours, now priced at $3.20 with a trading volume of $511.23 million. Market trends show a 60-day gain of 65.38% despite a market cap of $10.87 billion and dominance of 0.33%. SUI’s fluctuating numbers underscore its volatility amidst ecosystem changes.
Coincu research suggests the financial aid and legal actions signal confidence in the DeFi sector’s recovery.
Source: https://coincu.com/342226-cetus-protocol-restart-secures-loan/