Cetus Entices Hacker with $6M Bounty for Stolen ETH

Cetus Protocol, a decentralized exchange on the Sui network, recently faced a $223 million exploit. To recover user funds stolen and bridged to Ethereum, Cetus has proposed a settlement offering the hacker a $6 million bounty if they return the stolen assets. The hacker had exploited a flaw in Cetus’s liquidity pool smart contracts, exchanging some stolen assets for ETH. Alongside data analytics firm Inca Digital, Cetus has requested 20,920 ETH, valued at $56.3 million, back along with any other frozen funds. Cetus assured the hacker they would not face legal actions or any retaliation if they accept the deal. Meanwhile, Sui’s network collaborated with other DeFi protocols to lock down compromised accounts and transactions associated with the theft. This decision, however, sparked debates over Sui's centralization in the crypto community. Despite the recovery efforts, CETUS's token value slumped by 25%, collapsing alongside other related tokens. The Block, a media outlet independent of this situation but invested in the crypto space, notes these events as a reflection of ongoing challenges and dynamics within the industry.