Cetus has moved $160 million in previously frozen funds to a secure multi-signature wallet after community approval. This action follows an on-chain vote that gave the green light to begin the official recovery process after a major security breach.
The multisig wallet is now under shared management by Cetus, the Sui Foundation, and blockchain security firm OtterSec. The recovered funds will be kept safe in this wallet until the time when the affected users will receive them in the future.
Cetus asserted that the partnership guarantees all the important stakeholders remain transparent and accountable through the remaining phases. The development is a significant milestone in the journey towards regaining the trust and normal operations of the affected DeFi protocol.
With secured funds, Cetus has entered phase two of its detailed recovery roadmap shared earlier this month. The core team is hard at work on many fronts, including smart contract upgrades, liquidity restoration, and preparations for the eventual relaunch.Their team has shifted all focus toward ensuring user funds return and service stability is guaranteed.
Cetus plans twitter space with community
Cetus has arranged a Twitter Space with the Sui community on June 2, 2025. This aims to improve clarity and encourage direct interaction with the community.
During the event, team members will explain how the hack unfolded and what progress has been made since then. The session will also provide time for community questions, with the exact event time still being confirmed.
Their goal is to give each affected user a secure and seamless recovery process. Working with Sui and OtterSec, they intend to get full functionality going while keeping the users informed.
The roadmap is still progressing. There is a specific emphasis on restoring confidence and getting the protocol fully operational in the weeks ahead.
