Cetus Protocol, a leading decentralized exchange (DEX) and liquidity protocol on the Sui blockchain, has announced a substantial $5 million bounty for information leading to the identification and arrest of the hacker responsible for the recent $223 million exploit. The attack, which occurred on May 22, 2025, has sent shockwaves through the cryptocurrency community.

Details of the Cetus Hack

On May 23, the Cetus team released an update confirming that they had not received any communication from the hacker following the breach. The exploit resulted in significant losses and caused a sharp decline in the value of Sui tokens, highlighting the severity of the incident.

In response to the attack, Cetus initially extended a white hat deal to the hacker, offering leniency in exchange for the return of the stolen funds. However, with no response from the perpetrator, the protocol has now escalated its efforts by offering a $5 million reward for information that can lead to the individual’s identification and apprehension.

Cetus’ Official Statement

In the official update shared on social media, the Cetus team stated:

“We have not received any communication from the hacker. We encourage the hacker to sincerely consider our offer terms. Simultaneously, with the support of Inca Digital and financial assistance from the Sui Foundation, we are announcing a bounty of $5M for relevant information that results in the successful identification and arrest of the hacker(s).”

What Cetus Is Looking For

The Cetus security team is seeking specific information, including the hacker’s name, location, and verifiable proof of their identity. Members of the public with relevant details are encouraged to submit this information via email. Importantly, Cetus has clarified that if the hacker cooperates and returns the stolen funds, the protocol will refrain from pursuing legal action or awarding the bounty.

“If the hacker should cooperate and accept our offer as we hope, we will refrain from pursuing any further legal action or recourse, including the $5M bounty,” the team confirmed.

Immediate Actions Taken by Cetus

As the hack unfolded, the Cetus team acted swiftly to mitigate the damage. They successfully froze $162 million of the compromised assets before the attacker could drain them entirely. The team also demanded that the hacker return over 20,920 Ethereum and all other frozen funds on Sui as part of their time-sensitive offer.

Bounty Details

The $5 million bounty will be paid at the discretion of the Sui Foundation, which is working closely with Cetus to resolve the situation. This collaboration underscores the importance of community efforts in tackling security breaches within the cryptocurrency space.

Key Takeaways for Crypto Investors

The Cetus hack highlights the ongoing risks associated with decentralized finance (DeFi) platforms. As a crypto investor, consider the following tips to safeguard your investments:

  • Research Protocols: Only invest in platforms with a proven track record of security and transparency.
  • Use Multi-Signature Wallets: Multi-sig wallets add an extra layer of security to your funds.
  • Stay Updated: Follow official announcements from the projects you invest in to stay informed about potential risks.
  • Diversify Your Portfolio: Spread your investments across multiple platforms to minimize potential losses.

As DeFi continues to evolve, incidents like the Cetus hack serve as critical reminders of the importance of robust security measures and proactive risk management. By staying informed and vigilant, investors can better navigate the challenges of this rapidly growing sector.

Post Views: 0