Sui Foundation Provides Full Recovery Plan Following $223 Million Cetus Hack

The Sui Foundation has stepped forward to support the recovery of the Cetus Protocol following a major security breach that resulted in losses of $223 million. Their plan will ensure full user compensation, prompting positive market reactions for both the Cetus and Sui tokens. 100% compensation is a key focus of their involvement. The incident also highlighted the need for improved security measures within DeFi projects to prevent similar breaches from occurring. This strategic intervention by the Sui Foundation aims to rebuild trust and stability within the ecosystem. 100% user compensation is a crucial aspect of this plan, as funds have been deployed to cover losses that originated on Ethereum. The Cetus token saw a significant price increase after the announcement of the recovery plan, reflecting positive market sentiment towards the protocol’s resilience. Expert commentary stresses the importance of community governance and institutional support in navigating such crises effectively. The Sui Foundation’s intervention reflects an effort to restore confidence within the ecosystem.