Published: May 22, 2025

Last Updated: May 22, 2025

In a significant and rapidly developing situation, $160 million of over $220 million in stolen SUI-related funds have reportedly been frozen and are slated to be returned to Cetus pools. 

This major breakthrough, announced by a Chief Product Officer (CPO) familiar with the matter, comes swiftly after a hacker attacked CETUS, a top SUI ecosystem decentralized exchange (DEX), draining its liquidity pool and causing the CETUS token’s price to initially nosedive.

The initial attack saw the hacker withdraw the CETUS liquidity pool (LP), leading to an immediate and sharp 40% plunge in the crypto asset’s value. According to data from TradingView, CETUS, which surged about 16% on Thursday morning by rallying from a $0.21928 opening price to a $0.24563 daily high, quickly reversed course. Following the attack, the cryptocurrency was trading around $0.17174, with full details of the hack still unfolding at that time.

In the immediate aftermath of the CETUS exploit, representatives of the HIPPO project, another top SUI ecosystem solution, have issued a notice indicating their support in resolving the ongoing issue on CETUS. In its latest post on X, the HIPPO CTO stated that they are evaluating the issue on all SUI tokens on CETUS, promising to step in to initiate buybacks if it becomes necessary. 

Crypto platform exploits like the one observed on CETUS remain a concern for the crypto industry. They become more common during heightened crypto market activities, especially when digital assets rally significantly. Logical evaluations suggest that hackers capitalize on the increased influx of users and the likely distraction caused by the high volume of funds to exploit vulnerabilities in DEXs or other trading platforms.

The latest news regarding the $160 million freeze and impending return of funds marks a critical positive turn. While the CETUS team had yet to make a comprehensive official clarification about the initial event at the time of the attack, this recovery news, attributed to a CPO, indicates swift action is being taken to mitigate the damage.

The HIPPO team’s message reassures users about resolving the situation. However, fears about losing digital assets persist, with most users aware of similar incidents in the past that could not be reversed. In some cases, the losses were so significant that the platforms found it difficult to recover.

The recovery of such a large portion of the stolen SUI funds will be a major relief to the Cetus community and the wider SUI ecosystem. While the CETUS token remained under significant bearish pressure immediately following the hack, this development is likely to heavily influence market sentiment. Further details on the return process to the Cetus pools and the full scope of the initial exploit are still anticipated.

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