Emergency Vote Called After Hackers Freeze Cetus Protocol

24-May-2025

Something big happened in the crypto world. Cetus Protocol, a tool for trading and sharing crypto (called a DEX and liquidity protocol), runs on a blockchain called Sui. Recently, $223 million funds got frozen, and people couldn't reach their money. It might have been a hack, and it made a lot of folks very worried.

Let’s Vote to Fix It

To fix the problem, the Cetus team asked the community to vote on a new upgrade. The goal is to unfreeze the money and return it to those who own it. But here’s the important part—they want to do this without changing any history on the blockchain. That’s because blockchains are built on trust, and changing the past can break that trust.

The team behind the Sui blockchain says they’re not taking sides in the vote. They want to stay neutral and let the community decide. Still, they made it clear that the Cetus Protocol must do everything it can to get people’s money back. The focus is on doing what’s fair and right.

The Hacker Is Still Silent

So far, the person (or group) behind the missing funds hasn’t said a word. The team behind Cetus Protocol still hopes the hacker will step forward and return the money. They’ve even offered a deal if the hacker cooperates. But the clock is ticking, and trust is fading.

Source: X

A $5 Million Bounty Is Up

To help solve the case, Sui Foundation and Inca Digital are offering a $5 million reward. That’s for anyone who can give real information that leads to finding and arresting the hacker. To claim the bounty, someone would need to share the hacker’s name, location, and proof of what they did.

If someone has important details, they can send an email to info@inca.digital. The subject of the email should say “Cetus lead.” The reward will only be given if the tip is helpful and the Sui Foundation agrees it meets their terms. There’s still time for the hacker to do the right thing. If they agree to return the money and accept the offer, no legal action will be taken. The $5 million bounty will also be dropped. But this deal won’t last forever. The crypto world is watching closely.

Why This Matters in Crypto

This whole event shows why trust and safety are so important in crypto. When things go wrong, like with Cetus Protocol, the way organisations respond and act can build or break the confidence of users. Good decisions and timely actions help protect people and make the crypto space stronger.

Cetus Protocol’s situation and the Coinbase got hacked are warning calls for all of crypto, especially DeFi (Decentralized Finance). It reminds everyone that behind the tech, it’s still the individuals who are important. How we act when things go wrong is what matters the most. This could lead to better rules, better security, and a more honest crypto world.


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