Cryptocurrency protocol, Cetus, has promised to refund victims following the massive hack on the altcoin on May 22, 2025. Following a concluded voting via on-chain, Cetus announced via X that it has transferred the $160 million frozen funds associated with the attack to a multisig wallet.
Multiple entities, such as the Cetus protocol itself, the SUI Foundation, and the security firm OtterS, will manage the wallet. The funds in this wallet will be secure till they are transferred to users. Despite the positive news, CETUS price is still down 4% as of this writing.
Cetus also plans to host a Twitter Space event in conjunction with the SUI community on June 2, 2025. The protocol will disclose all details about the hack, the progress made regarding recovery, and answer questions from the community.
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