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May 23, 2025

Cetus Offers $6M Bounty Following Massive Hack and Decentralization Debate

Cetus is stepping up its efforts to recover from a recent hack by offering a $6 million white hat bounty. The hack resulted in the loss of a staggering $220 million in digital assets, prompting swift emergency responses from the Sui Network. These reactions have sparked discussions around decentralization and its vulnerabilities. Remarkably, Cetus managed to freeze $162 million of the stolen funds shortly after the attack, showcasing the platform’s resilience. The implications of this incident have raised critical questions regarding security measures and trust in decentralized exchanges. The cryptocurrency community awaits further developments as Cetus works diligently to navigate these challenges.

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