Sui-based Cetus Protocol offers $6M bounty to hacker after $223M exploit
Crypto NewsFriday, May 23, 2025 at 4:35:24 AM
Cetus Protocol, a major decentralized exchange on the Sui blockchain, got hit with a $223 million hack on May 22. Instead of just scrambling to recover the funds, they’re taking an unusual approach: offering the hacker a $6 million "bounty" to return the rest. It’s a high-stakes negotiation playing out on-chain, with the platform trying to minimize losses while the hacker holds all the cards.
Editor’s Note: This isn’t just another crypto hack—it’s a test of how DeFi projects handle crises. Offering a bounty to a hacker is risky (some might call it rewarding bad behavior), but it also reflects the harsh reality that recovering stolen crypto is often impossible without cooperation. For investors and users, it’s a stark reminder of the vulnerabilities in decentralized systems, even on big-name platforms. The outcome could set a precedent for how future exploits are handled.
— Curated via WP Now’s
