Cetus, a Sui-based decentralized exchange, has adopted a recovery strategy reminiscent of that used by Crema Finance, a Solana project that faced a $9-million hack in 2022. The development team behind Cetus is the same as Crema's. After a recent exploit that resulted in a $223 million loss, Cetus has offered a bounty for the hacker to return all but $6 million of the stolen funds, pledging protection from legal action in return. This strategy has met criticism from the community, which argues that a formal compensation plan is more appropriate given the devastation to the CETUS token's value. Furthermore, Sui validators have come under fire for freezing $162 million of the stolen assets, raising concerns about centralization in the network, which is seen as fewer than necessary validators compared to others in the crypto space. Critics highlight that while recovery is crucial, the approach raises questions about the true decentralization of Sui. Meanwhile, the hacker has yet to respond to Cetus's offer, maintaining over $60 million in stolen ETH across Ethereum wallets.

Source 🔗