The post Cetus Protocol Hack: Community Approves Full Refund Amid CETUS Price Crash appeared first on Coinpedia Fintech News
Cetus protocol, a decentralized exchange on the Sui blockchain, faced 2025’s second big exploit, which took place on May 22, severely impacting Sui-based tokens and leading to a 50% drop in Cetus’s native token, CETUS price, as well.
Following that, CETUS said on Tuesday that it is prepared to return 100% of user funds lost in a $223 million exploit, based on the outcome of a community vote.
Now, a recent optimistic update joined this Friday, May 30th, a recent post from CETUS highlighted that within just 48 hours, the Sui community united to pass this critical on-chain decision. As a result of the vote, more than 90% of validators and stakers voted in CETUS’ favour.
As a result, now a on-chain governance proposal to move the frozen funds into a multi-sig wallet. The vote is a critical step in Cetus’s recovery plan after a $223 million exploit on May 22.
Further, it outlined an 8-point recovery roadmap for the coming week, which includes the restoration of data, an upgraded CLMM contract, and the full resumption of other functions like LP functions, as they said in an X post.
Despite the positive update, its token price has declined following the altcoin market sentiment. Keep reading to know more.
Will CETUS Price Recover?
With the proposal passed, it has now authorized the recovery of locked funds, enabling full reimbursement to be possible for affected users. The community awaits the beginning of the user refund process. Once completed successfully, it will become a great example of community-led recovery in the DeFi space.
However, the response in CETUS crypto price action seen on Tuesday is not mimicked on Friday, not even the slightest surges are seen, despite the great optimism in CETUS.
This has happened because the BTC fell to $105K, ETH fell to $2580, and SUI fell to $3.40, signifying market-wide weakness. As a result, the CETUS price has faced rejection from the Fibonacci 0.5 level at $0.16625 and is down nearly 19% to trade at $0.14492.
If market sentiment continues, then CETUS price could shatter more in the short term and impede its price recovery journey. Based on bearish conditions, it possesses the risk of declining to $0.07565.
Additionally, its followers on X have surged this week after a hefty fall last week, but the weighted sentiment lingers near the zero line at “+0.141” that clearly indicates that positive and negative views are canceling out each other, and no strong directional bias has formed in CETUS price yet.
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