Cetus Recovers Stolen Funds Following Governance Proposal Approval

Cetus Protocol has successfully transferred isolated funds to a multi-signature wallet, with a community discussion scheduled for June 2, 2025, to share recovery updates and strategies.

SUI

Summary

Cetus Protocol has safely transferred previously isolated funds to a multi-signature trust wallet managed by Cetus, Sui Foundation, and OtterSec following a recent hack. The project is now entering the next phase of its recovery process. A Space meeting is scheduled for June 2 to discuss the hack and share recovery updates with the community.

Terms & Concepts
  • multi-signature wallet: A wallet that requires multiple private keys to authorize a transaction, enhancing security.
  • governance proposal: A formal suggestion put forward for discussion and voting within a decentralized organization to make decisions.
  • protocol upgrades: Improvements or enhancements made to the underlying technology of a blockchain or platform.