Cetus Protocol (CETUS) is relaunching with full functionality on June 9, 2025 at 06:00 following a comprehensive recovery plan following the security breach. The protocol has undergone a comprehensive restructuring, based on both community voting and various financial steps, with the aim of restoring user funds and pool balance.
The Cetus team has reclaimed some of the lost assets through on-chain voting and rebalancing these assets. It has also committed $7 million from its treasury to reclaim the missing tokens. Additionally, a $30 million USDC loan was provided from the Sui Foundation.
A compensation plan is being put in place for the protocol’s native token, CETUS. 15% of the total token supply has been set aside as compensation. 5% of this will be vested at launch, with the remaining 10% planned to vest linearly over 12 months.
“Over the last two weeks, our team has been working day and night to address the security incident. We are grateful for the patience and trust shown by our community throughout this process. We are now ready to share the final recovery plan that will restart Cetus Protocol with full functionality,” Cetus said in a statement on Medium.
The attack targeted Cetus CLMM (Concentrated Liquidity Market Maker) pools. The attack used a sophisticated method to exploit a vulnerability in an open-source CLMM library and drain significant amounts of assets from large pools. The attacker executed a large number of on-chain swaps, severely disrupting pool prices and balances.
*This is not investment advice.
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