Cetus Protocol Seeks Full Refunds for Affected Users
Date: 2025-05-28 Author: Gabriel Deangelo Categories: BUSINESS
The Cetus Protocol team has announced its intention to fully compensate users whose funds were stolen as a result of the hack. To implement this plan, a vote was initiated among the Sui community to receive a loan from the Sui Foundation, which is necessary to cover all losses.
In an official statement, the developers emphasized that the incident was a serious blow to the entire ecosystem, and they intend to take responsibility by ensuring the return of 100% of the funds to the victims. To do this, they plan to use all available resources, including both fiat reserves and crypto assets. However, this will not be enough without additional financial assistance from the Sui Foundation.
The developers ask the community to approve the requested loan, emphasizing that these funds will not only compensate for the losses, but also launch the process of “restoring and strengthening” the Sui decentralized financial ecosystem. They also expressed hope for support from project participants and promised to improve the protocol's sustainability in the future.
According to research company Dedaub, the incident was caused by a vulnerability in the liquidity pool parameter verification mechanism in the Cetus system. Hackers took advantage of this weakness to withdraw user assets, causing significant financial damage.
The Cetus team emphasizes that it has already begun reviewing the protocol architecture and conducting a security audit to minimize the risk of similar attacks being repeated. Priority measures include the introduction of additional parameter checks and increased monitoring of activity within the platform.
The project representatives also thanked the community for their patience and support, promising to provide regular updates on the progress of the compensation process and technical improvements.
If the vote ends in favor of providing a loan, Cetus Protocol will receive the necessary resources to fulfill its obligations to users and continue the development of the Sui DeFi ecosystem.
