Just-In: Cetus Hack Victims on SUI Set for $162M Reimbursement; Cetus Price Jumps 27%
Highlights
- 54% community votes yes to Cetus recovery proposal
- The proposal involves $162 frozen assets and $60 SUI Loan
- Cetus price is up by 30% in last 24 hrs
In a major development around the Cetus hack, 54% of the community has voted yes to the recovery plan combining frozen assets and a $60 million SUI loan. There is still 1 day left for final confirmation, but as per experts, current votes are sufficient to pass the early stage. The Cetus price has jumped by 27% today and is trading at $0.165 at the time of reporting.
Community Votes Yes to SUI Loan Proposal
As reported by CoinGape, on 23rd May 2025, Cetus protocol, the largest SUI liquidation provider, suffered a massive $260 million hack. The community came around in support, including former Binance CEO CZ, in an incident that led to a significant loss to users.
Yesterday, the SUI foundation announced a secured loan to bridge the $60M required to reimburse the funds lost by users in the hack. This recovery plan is aimed at helping users who lost funds in the attack.
As per an official post by Cetus, the final approval depends on the community vote to implement the recovery proposal and the SUI loan. Introducing the fund reimbursement scheme, the team stated,
We have great news. Using our cash and token treasuries, we are now in a position to fully cover the stolen assets currently off-chain if the locked funds are recovered through the upcoming community vote. This includes a critical loan from the Sui Foundation, making a 100% recovery for all affected users possible.
Further, Cetus wrote about the voting process, adding, “Because full recovery is dependent upon the results of the community vote, we humbly ask for the Sui community’s full support to recover the funds via the upcoming vote.” As per a tweet by Coinbureau, 55.4% of the community has voted yes to the proposal so far, thus paving the way forward for user funds recovery. 44.3% have yet to vote on the matter.

As a result of this update, the Cetus price has surged by more than 27% today. The trading volume is also up 218% in the last 24 hours. It is worth noting that the price fell by more than 100% on the day of the hack.

Cetus Recovery Plan: A Closer Look
As outlined by Cetus, Sui requests the community to vote on a proposal to recover assets stolen from the Cetus protocol. The proposal aims to return the stolen assets, currently held in two attacker addresses, back to Cetus, as narrated in the Cetus Recovery Plan.
If the vote passes, a future Sui release will include a protocol upgrade enabling two special transactions to recover stolen assets. These transactions will be hardcoded to transfer funds from the attacker addresses to a Cetus multisig wallet, controlled jointly by Cetus, the Sui Foundation, and OtterSec, after verifying the voting results.
However, the platform pledges reimbursement regardless of the voting outcome.
Regardless of the outcome of the vote, recovery will begin immediately after. A detailed plan will follow. We deeply regret the impact caused by the recent incident and sincerely apologize to our users and the broader ecosystem for the exposure
- Canary XRP ETF Filing Removes SEC Delay Clause, Targets November Launch
- CFTC, SEC Launch ‘New Era of Collaboration’ to Clarify Crypto Rules, End Regulation by Enforcement
- Senate Committee Finalizes Updated Crypto Market Structure Bill Draft, Release Expected In Days
- €648 Billion Nordea To Allow Customers to Trade Bitcoin-Linked ETFs
- Uphold Joins Gemini, Relaunches XRP Debit Card Following SEC Lawsuit Resolution
- Cardano Price Risks 20% Crash Amid Death Cross and Falling ADA ETF Odds
- Bitcoin Price Forecast as Trump Cuts Tariffs After US-China Trade Deal
- Analyst Foresees a Parabolic Rally for Pepe Coin Price as Whale Accumulation Intensifies
- Fidelity Amends S-1 for Solana ETF: Is SOL Price Set to Rally?
- Pi Coin Price Targets $0.65 as ISO 20022 Membership Boosts Institutional Confidence
- Ethereum Price Flips BTC in Strategy Shift, Eyes $4500 Level
MEXC