Following a major cyberattack on the Cetus protocol on May 23, 2025, 54% of community members supported a recovery plan that involved compensating frozen assets and covering losses with a $60 million SUI credit. Although the final vote was pending, the existing votes were sufficient to pass the early stage of the plan. Experts noted that the community’s support had reached a significant level, providing clarity on the future direction after the final approval.
SUI Coin FUD Subsides
Cetus is a leading platform operating on SUI that provides liquidation services. The cyberattack caused approximately $260 million in damages, resulting in major losses for users. The crypto community and prominent figures like former Binance CEO CZ expressed support, emphasizing unity.
In response to the attack, the Cetus community initiated efforts to prepare a recovery plan. Users sought swift solutions to secure both their investments and the platform itself. Various proposals were put forward to compensate the lost amounts.
The SUI Foundation announced a secured credit plan to cover losses. This $60 million credit aimed to reimburse affected users as much as possible. Following this announcement, Cetus’ token saw a 30% price increase, reaching $0.17.
SUI Foundation: “Our priority is to offer a safe and sustainable solution to support users.”
Community approval was necessary for the recovery plan’s implementation. Initially, 54% of the votes were positive, deemed sufficient for the process to proceed. With just one day left for the final approval, plans suggested that the plan would be formally accepted if current trends continued.
Cetus Price and Community Confidence
Recent developments directly impacted the market value of the Cetus token. Analysts considered the favorable voting results and the SUI Foundation’s financial commitment as price-supporting elements. The price rise was seen as an indicator of confidence in the platform and recovery plan.
Following the cyberattack, there was a marked increase in demands for more transparency and communication within the community. Many users called for new security measures on the platform while aiming to assess proposals in the future.
The broad acceptance of the recovery plan by the community after the Cetus protocol attack suggests that user confidence in the crypto markets can be restored. Financial support, loss mitigation, and new price levels could be pivotal for the platform’s future. The events are viewed as guiding developments regarding asset security and crisis management for other projects.
