Crypto Exchange Proposes $5M Bounty Deal Following $223M Breach
Following a massive exploit that drained $223 million from its decentralized exchange (DEX), Cetus has extended a $5 million white-hat offer to the unidentified hacker responsible for the attack, which involved the use of counterfeit tokens.
The Sui-based platform made the proposal public just a day after the incident, warning that refusal could result in serious legal action.
The Cetus team—now working closely with the Sui Foundation and cybersecurity experts from Inca Digital—has launched an active investigation to trace the attacker.
“So far, we’ve received no contact from the individual behind the exploit,” Cetus posted via its official X account. “We urge the responsible party to consider our offer in good faith.”
In addition to the white-hat deal, Cetus is offering a $5 million reward for any credible information leading to the identification or apprehension of the attacker or any parties involved.
The hacker reportedly withdrew over 20,920 ETH through the Sui network. However, an additional $162 million in digital assets was frozen before it could be moved, mitigating what could have been even greater losses.
The exploit has had broader repercussions beyond the stolen funds. The price of the CETUS token dropped by 40% in the immediate aftermath, amplifying the damage to the protocol and its community.
Cetus now faces the dual challenge of securing its systems and attempting to recover the stolen funds, while navigating the legal and technical hurdles left in the wake of one of the largest DeFi breaches of the year.
