Cetus Seeks Hacker Cooperation, Offers $5M Bounty – Coincu

Cetus Protocol, a major decentralized exchange on the Sui network, experienced a security breach on May 22, 2025, leading to a loss of approximately $223 million in assets.

The incident has prompted swift action from Cetus and its stakeholders. A bounty of $5 million has been announced by Cetus, offering incentives for information that may lead to the hacker’s identification. This initiative is supported by the Sui Foundation and Inca Digital, emphasizing their commitment to resolving the situation.

Swift Response and Market Impact Following Cetus Hack

Cetus Protocol reported a significant exploit, locking down contracts to prevent further losses. With support from Inca Digital and the Sui Foundation, a bounty was issued, aiming to capture the perpetrator and secure user assets. “We took immediate action to lock our contract preventing further theft of funds.“, said a Cetus Protocol representative.

Cetus has halted trading and operations to stem the breach’s repercussions. Assets have been partially recovered, and stakeholders are provided the opportunity to aid in the hacker’s arrest without pursuing legal consequences if cooperation ensues.

Market response was immediate, seeing sharp declines in Sui-related assets. More insights can be found in Shoucccc’s thoughts on cryptocurrency volatility.

However, the absence of regulatory intervention at this stage underlines the crypto community’s focus on internal remediation. Cetus assured its community of ongoing efforts to protect financial integrity.

Market Reactions and Future Outlook

Did you know? The cryptocurrency market has seen numerous security breaches, with losses often exceeding hundreds of millions of dollars.

Following the hack, Sui-related assets experienced a drastic drop in value, with some tokens plummeting by over 90%.

Analysts suggest that the incident may lead to increased scrutiny and regulatory measures in the cryptocurrency sector, as exchanges work to bolster their security protocols.