CETUS token Archives - Coin Engineer https://coinengineer.net/blog/tag/cetus-token/ Btc, Coins, Pre-Sale, DeFi, NFT Mon, 09 Jun 2025 06:55:00 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://coinengineer.net/blog/wp-content/uploads/2024/04/cropped-Coin-Engineer-Logo-Favicon-2-32x32.png CETUS token Archives - Coin Engineer https://coinengineer.net/blog/tag/cetus-token/ 32 32 Cetus Return With Open-Source Vision After Devastating Exploit https://coinengineer.net/blog/cetus-return-with-open-source-vision-after-devastating-exploit/ https://coinengineer.net/blog/cetus-return-with-open-source-vision-after-devastating-exploit/#respond Mon, 09 Jun 2025 07:00:15 +0000 https://coinengineer.net/blog/?p=43951 Sometimes a single event can shake an entire ecosystem. In May, the crypto world witnessed one of those moments when Cetus, a Sui-native DEX, was exploited for $220 million. Now, it’s not just making a comeback — it’s rewriting its future. The new direction? Open-source development, stronger security, and a commitment to compensate users. Vulnerability

The post Cetus Return With Open-Source Vision After Devastating Exploit appeared first on Coin Engineer.

]]> Sometimes a single event can shake an entire ecosystem. In May, the crypto world witnessed one of those moments when Cetus, a Sui-native DEX, was exploited for $220 million. Now, it’s not just making a comeback — it’s rewriting its future.

The new direction? Open-source development, stronger security, and a commitment to compensate users.

Vulnerability Patched, Open-Source Future Unveiled

On May 22, attackers took advantage of a flaw in Cetus‘ pricing mechanism, draining major liquidity pools. Fortunately, $162 million worth of stolen assets were frozen shortly after.

You Might Be Interested In: Elon Musk Talks About the Name of a New Memecoin!

In a June 7 statement, the team revealed that they’ve not only patched the vulnerability but are also transitioning to an open-source model. A new white hat bounty program is launching to crowdsource contributions to security and stability.

cetus

Liquidity Restored Through Multiple Channels

To resume operations, Cetus replenished its liquidity using $7 million in cash reserves, a $30 million USDC loan from the Sui Foundation, and partial recovery of the stolen funds. Recovery rates for affected pools range from 85% to 99%, depending on the drain severity.

As part of a user compensation strategy, 15% of CETUS token supply has been allocated. While 5% will be distributed immediately, the remaining 10% will unlock linearly over 12 months, starting June 10.

Legal Action Underway As Security Tightens

Though a $6 million white hat bounty was initially offered, the attacker has started laundering funds, prompting Cetus to pursue legal action across multiple jurisdictions. Law enforcement agencies are actively involved, and the team remains confident about asset recovery.

Security audits are being ramped up again as Cetus aims to win back user trust through transparency and resilience.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post Cetus Return With Open-Source Vision After Devastating Exploit appeared first on Coin Engineer.

]]> https://coinengineer.net/blog/cetus-return-with-open-source-vision-after-devastating-exploit/feed/ 0