Cetus Replication Mirrors Solana’s Recovering Funds Strategy

Sui-based decentralized exchange Cetus is employing a strategy similar to that used by Solana project Crema Finance, which recovered funds from a $9 million hack in 2022. Following the recent exploit resulting in a loss of $223 million for Cetus, the project is offering a bounty of up to $6 million to incentivize the return of stolen funds. The offer comes with a promise not to pursue legal action against the hacker. This echoes Crema’s approach where the hacker was offered an arrangement to return a portion of the funds in exchange for waiving prosecution. Cetus users have expressed concerns, urging for a more comprehensive compensation plan instead. The community criticizes the strategy for lacking transparency and potentially perpetuating a lack of trust.