Cetus Protocol Offers $6M Bounty to Hacker After Exploit
Cetus Protocol, a decentralized exchange built on the Sui blockchain, has offered a $6 million bounty to the hacker responsible for the exploit earlier this week, in hopes of recovering lost user funds.
In a statement posted late Thursday on X, Cetus confirmed it had identified the Ethereum wallet address tied to the attacker and was now engaged in negotiations to retrieve the stolen assets. The offer is described as time-sensitive and pertains specifically to the funds bridged to Ethereum during the exploit.
“We have identified the Ethereum wallet address controlled by the hacker… and reached out to negotiate the return of customer funds,” the team said.
The hack, which exploited a vulnerability in Cetus’ liquidity pool smart contracts, resulted in over $200 million in assets being drained. Some of the funds were quickly swapped into USDC, then converted into ETH, and partially bridged off Sui.
In collaboration with Inca Digital, Cetus sent a direct message to the attacker, demanding the return of 20,920 ETH (~$56.3 million) and all assets frozen on Sui wallets.
“In exchange, you can keep 2,324 ETH (~$6M) as a bounty… and we will consider the matter closed,” the message reads, warning that legal action will begin if any funds are off-ramped or laundered.
Cetus also confirmed that the vulnerability has been identified and patched, and further measures are being taken to secure the protocol.
The incident adds to a growing list of DeFi exploits in 2025, as projects race to balance open-source innovation with robust security measures.
Kosta has reported on cryptocurrency markets and blockchain infrastructure since 2020, bringing over six years of hands-on experience in the crypto industry built through daily tracking of markets, trends, and emerging blockchain developments. Specializing in Bitcoin on-chain analysis, institutional ETF flows, and digital asset price action, his work at Coindoo has been cited by other news agencies and consistently covers market developments with a focus on data-driven reporting across Bitcoin, Ethereum, Solana, and XRP. Over the years, Kosta has contributed to multiple crypto media outlets in different regions, authoring over 6,000 articles across the sector. His reporting spans cryptocurrency markets and the broader fintech industry, tracking not only price action but also the technological and regulatory forces shaping the ecosystem. To support his analysis, Kosta actively leverages on-chain data and metrics from leading platforms such as Santiment, Glassnode, and CryptoQuant, enabling deeper, evidence-based market insights. He believes in the power of transparency and the data that underpins the blockchain ecosystem. His academic background in Marketing Management from Denmark further complements his analytical approach, adding a strong understanding of communication strategy and content positioning to his work.
