Cetus community approves recovery plan, allowing quick reimbursement of stolen funds after the hack, backed by a $60M SUI loan and frozen assets.
In a significant development related to the company’s breach, 54% of the Community voted to favor the recovery plan, which comprises a $60 million SUI loan and frozen assets.
Although one day remains until the final confirmation, experts believe that the current ballots are adequate to pass the early stage.
The price of Cetus has increased by 27% today and is currently trading at $0.165 at the time of this report.
Community Approves SUI Loan Proposal
Cetus Protocol, the largest SUI liquidation provider, was the victim of a significant $260 million breach on May 23, 2025, as reported by CoinGape.
In an incident that resulted in a substantial loss for users, the Community rallied in support, including erstwhile Binance CEO CZ.
The SUI Foundation announced yesterday that it has secured a loan of $60 million to cover the funds that users lost in the hack.
This recovery plan aims to assist users who experienced financial losses during the attack.
The final sanction of the recovery proposal and the SUI loan is contingent upon the community vote, as stated in an official post by the company.
The team introduced the fund reimbursement scheme by saying,
We have great news. Using our cash and token treasuries, we are now in a position to fully cover the stolen assets currently off-chain if the locked funds are recovered through the upcoming community vote. This includes a critical loan from the Sui Foundation, making a 100% recovery for all affected users possible.
Additionally, Cetus addressed the voting process, stating, “We respectfully request the Sui community’s unwavering support to recover the funds through the forthcoming vote, as the full extent of recovery is contingent upon the results of the community vote.”
Coinbureau has tweeted that 55.4% of the Community has voted in favor of the proposal thus far, thereby facilitating the recovery of user funds.
The matter has not yet been voted on by 44.3% of the population.
This update has increased the Cetus price by over 27% today.
The trading volume has increased by 218% over the past 24 hours.
It is essential to mention that the price experienced a decline of over 100% on the day of the breach.
Comprehensive Examination Of Cetus Recovery Plan
Sui requests that the community vote on a proposition to recover assets stolen from the Cetus protocol, as outlined by Cetus.
As detailed in the Cetus Recovery Plan, the proposal’s objective is to return the stolen assets presently located at two attacker addresses to Cetus.
A protocol upgrade will be included in a future Sui release if the referendum is successful, allowing for the recovery of stolen assets through two special transactions.
After verifying the voting results, these transactions will be hard coded to transfer funds from the attacker addresses to a Cetus multi-sig wallet, which Cetus, the Sui Foundation, and OtterSec jointly control.
Nevertheless, reimbursement is guaranteed by the platform, irrespective of the outcome of the vote.
Regardless of the outcome of the vote, recovery will begin immediately after. A detailed plan will follow. We deeply regret the impact caused by the recent incident and sincerely apologize to our users and the broader ecosystem for the exposure
