Cetus Protocol Hack: Community Votes to Approve Full Refund

The Cetus protocol, a decentralized exchange built on the Sui blockchain, experienced its second major exploit this year. The incident, which took place on May 22nd, resulted in a significant drop of over 50% for the platform’s native token, CETUS. Now, community members have voted to approve a full refund of user funds lost due to the exploit, totaling $223 million. 90% or more of validators and stakers on the Sui blockchain unanimously approved the proposal following a recent community vote.