Cetus Protocol, a decentralized exchange on the Sui network, has resumed operations following a significant hack that stole $220 million in May. The exploit was facilitated by a flaw in the pricing mechanism. In the aftermath, the team has replenished liquidity pools using $7 million in cash reserves, a $30 million USDC loan from the Sui Foundation, and some recovered assets. While trade volume had previously soared to over $5 billion in April and May, the token value dropped by 12% to $0.11 post-relaunch. To enhance security and promote transparency, Cetus plans to shift towards open-source development, initiating a white hat bounty program. Additionally, a compensation plan has been set up where 15% of the CETUS token supply will be set aside for affected users—5% available immediately and the rest progressively released over a year. The protocol is also pursuing legal action against the hacker with hopes of recovering stolen assets, having previously offered a reward for their return.

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