Afterline Attack Brings Cetus a Saving of $160 Million
Hacking Laid Low Cetus But They're Bouncing Back, Big Time
After a brutal cyber attack that saw hackers walk away with a whopping $160 million, Cetus refused to go down without a fight. The quick-thinking team managed to recover the stolen loot, and the funds are now securely stashed away in a multisignature wallet.
Recovery Time!
With a massive chunk of the community rallying behind the plan in an on-chain poll, Cetus, Sui Foundation, and OtterSec are now in charge of managing the secure wallet. "Alrighty then, let's crack on with the next phase of the recovery process," declared Cetus, giving us a glimpse of their determination.
Their ambitious recovery plan consists of these badass moves:
- Smarter, stronger smart contracts
- Make sure the liquidity is flowing like a river
- Restarting the protocol like a phoenix rising from the ashes
Two peas in a pod: Transparency and Tech
Cetus isn't just a bunch of code-slinging tech junkies. Nope, they're as community-focused as they come. To prove it, they're hosting a live Q&A session with the Sui community on June 2nd. They'll spill the beans on the hack details—just the juicy facts—and field questions about the recovery process. The exact time of the event hasn't been released yet, but mark your calendars, folks!
One user chimed in, "A-freakin'-mazing! The recovery is making headlines, and it deserves all the attention it can get." Another fan commented, "As a user, I feel a mix of relief and gratitude. Keep up the awesome work, Cetus!"
90.9% of Sui stakers voted in favor of transferring the funds to a secure multisignature wallet, resulting in an early conclusion to the poll.
The Market, Amirite?
The recovered funds might be safe and sound, but the market didn't exactly cheer in celebration. CETUS price is currently floating at $0.1374, up a mere 2.4%, while on a weekly basis, it's up 3.8%. On a gloomier note, it's down 31.9% on a monthly basis. Meanwhile, SUI token is enjoying a 1.5% increase to $3.30 in the last 24 hours.
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Patience and support, kid. We're gunning for a full recovery.
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- The recovery plan of Cetus includes implementing smarter and stronger smart contracts, ensuring a seamless flow of liquidity, and restarting the protocol similarly to a phoenix rising from the ashes, demonstrating their determination in the face of the hacking incident.
- Cetus will hold a live Q&A session with the Sui community on June 2nd, sharing insights about the hack details and answering questions about the recovery process, emphasizing their commitment to community transparency and technology.
