The Cetus Protocol has swiftly reacted to a significant $223 million breach, freezing $162 million in assets to protect against further losses. This swift action was taken in coordination with Sui Foundation and key validators, with the protocol’s team playing a crucial role. Following this initial response, Cetus is implementing upgrades to the protocol while also working on recovery strategies. This move aims to mitigate damage without resorting to a blockchain rollback. The impact of the attack has been felt across the network as the CETUS token price dropped by 40%, with related assets like BULLA and MOJO experiencing even larger declines. The breach highlights the vulnerabilities inherent in decentralized finance (DeFi), prompting a reevaluation of security measures. Recovery efforts are underway, seeking to restore liquidity pools and trading activity, while experts monitor for potential long-term impacts on the Sui network’s largest decentralized exchange.