Recently hacked Cetus Protocol took to X to inform its users and the general public of its progress in recovering the stolen funds. It stated that it had received approval via the on-chain vote to transfer quarantined funds to a multisig trust account.
Cetus Recovery Proposal Receives Support Through On-chain Vote
The Sui blockchain-native Decentralized Exchange (DEX), known as Cetus Protocol, was a victim of a major exploit on May 22. The perpetrator targeted a vulnerability in its concentrated liquidity market maker contract.
The Cetus hacker leveraged unchecked math operations in a third-party code library. Once in, it manipulated prices using a flash swap, draining several pools by faking liquidity deposits and repeatedly withdrawing real tokens.
The unfortunate event led to the loss of approximately $220 million in cryptocurrencies, although the protocol later froze $162 million of the funds. About 48 hours later, the Sui community united to pass a critical on-chain v
We współpracy z: https://www.coinspeaker.com/sui-hack-cetus-protocol-provides-update-on-recovered-funds/
