In a major update after the recent hack on Cetus Protocol, it has been ascertained that $160 million in user balances were effectively frozen and will be returned to the liquidity providers (LPs) of the platform. This large chunk of the compromised assets was secured shortly after the attack and is now retrievable.
This information was brought by various sources, including a comprehensive summary thread on X posted by SuiNetwork Africa founder Nefarii.sui. The exploit targeted a bug in the Cetus smart contracts, impacting around $220 million in total funds.
Both Cetus developers and the Sui Network team are actively working together to recover the remaining $60 million. Importantly, the Sui blockchain itself was not affected by the exploit, as confirmed by network officials.
Nefarii.sui is a prominent builder and community leader in the Sui blockchain ecosystem. He is the founder of SuiMoveAfrica and has played a key role in expanding Sui’s presence across the continent by building regional communities such as SuiNetworkGhana, SuiNetworkKE (Kenya), and SuiNetworkNG (Nigeria).
The SUI blockchain faced a major setback after its largest DEX, Cetus Protocol, was hacked for $260 million, causing the SUI token to drop 15% to around $3.81.
Importantly, the Sui blockchain itself was not impacted by the attack. The issue was isolated to Cetus Protocol, which has since patched the vulnerability. Trading has now resumed, and the protocol is officially back online.
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