- After a $223 million exploit, Cetus Protocol is relaunching with a new roadmap aimed at improving security, restoring user funds, and rebuilding trust.
- Despite these efforts, CETUS price dropped around 7% on the day of the announcement, continuing its downtrend that began in May.
Cetus Protocol is preparing a comeback after suffering a massive $223 million exploit. The team has introduced a new roadmap and a compensation plan for users to rebuild trust and restore the platform. This relaunch aims to strengthen security and support affected users.
As previously recorded by Tronweekly, the Sui network explained that the hack happened due to the flaw in Cetus Protocol’s math logic, not the Move programming language.
Cetus Protocol Repayment Plan
On the 6th of June, the decentralized exchange shared its recovery plan in a blog post. According to the details, the repayment structure is focused on better safety, using improved tracking tools, and moving toward full open-source development. A new reward program was launched to encourage community-led protection. The team also said all damaged CLMM pools would be restored using a mix of recovered funds, company reserves, and a $30 million loan from the parent company, Sui Foundation.
They also added that the liquidity providers will get back all their earlier positions, with recovery between 85% and 99%, based on the individual’s pool’s damage level. To cover the remaining losses, 15% of CETUS tokens were set aside for affected users, 5% ready for instant claims and the rest to be given out monthly from the 10th of June over a year. This payout system does not create extra tokens, as it uses existing unvested team coins.
All claims will be linked to LP position NFTs, which stay useful for CETUS even after funds are removed. The platform has made sure to finish new reviews with more checks, and live threat tracking is planned to boost safety. The new update, although exciting, did not help CETUS, which dropped about 7% that day, continuing a decline that started in May.
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