After $220M Breach, Cetus Offers Hacker Deal as Sui Debates Control

The decentralized exchange Cetus, built on the Sui blockchain, has been hit with one of the largest DeFi exploits of the year, losing over $220 million in crypto assets.

While the team swiftly froze $162 million, they’re now offering the hacker a $6 million white hat bounty if the remaining funds, including 20,920 ETH, are returned.

“Keep 2,324 ETH and walk away—we won’t take legal or public action,” Cetus offered in an on-chain message. If ignored, the team says it will pursue every legal and intelligence channel available.

The incident comes amid a rise in crypto-related breaches—April alone saw $90 million in stolen funds across 15 attacks, and Bybit’s massive $1.4 billion loss in February still casts a shadow.

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Behind the scenes, developers on the Sui network considered deploying an emergency “whitelist” function to bypass standard validation and potentially recover assets. Critics argue this undermines the chain’s decentralization, while defenders view it as a necessary safeguard.

Developer logs and GitHub activity confirm that a proposal was discussed to allow certain transactions without signatures. Some validators resisted, and current actions are limited to blocking hacker-related transfers, not rewriting transactions.

The debate has split the crypto community. To some, it’s a red flag for centralization. To others, it shows that blockchain governance can be proactive without abandoning core values.

“Decentralization isn’t about standing by—it’s about acting as a community,” one user wrote.

As the bounty window remains open, the Cetus case may be remembered not only for the scale of the theft—but for testing the boundaries of decentralized decision-making.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.