From Cointelegraph

June 8, 2025 10:42 PM:

Cetus Protocol, a decentralized exchange, was hit by a $220 million exploit in May, leading to frozen funds and a relaunch. The team is now moving towards open-sourcing, with plans for a white bounty program. Liquidity pools were replenished using reserves and a loan. Compensation plan includes setting aside 15% of CETUS tokens.

Despite recovering some funds, not all pools were fully restored after the attack, with recovery rates between 85% and 99%. The Cetus token has dropped by 12% post-relaunch. Upgrades to monitoring system and security audits are planned. Legal action is ongoing in multiple jurisdictions to recover remaining assets.

The attacker ignored a white hat offer and attempts to launder assets, but the team is confident in successful arrest and recovery. A white hat bounty of up to $6 million was offered to the exploiter. Plans are in place for additional security measures and audits. Recovery efforts are ongoing with law enforcement involvement.

Read more at Cointelegraph: Cetus Relaunches After $200 Million May Hack