Cetus "Restoration procedures to be completed within a week"

Cetus, the decentralized exchange (DEX) based on Sui (SUI), announced on the 30th (local time) that it will complete restoration procedures within a week.

According to an official post from Cetus on X on the same day, Cetus will first upgrade its protocol to transfer the assets frozen during the attack to a multisig wallet, jointly controlled by Cetus, OtterSec, and the Sui Foundation. The Clustered Liquidity Market Maker (CLMM) contract has also been upgraded to include an emergency recovery function.

After restoration, the data of each liquidity pool affected by the attack will be analyzed to estimate the extent of losses. As the attacker conducted numerous swaps at the time, significantly altering asset composition, Cetus plans to rebalance the assets under a strategy to prevent large price swings or slippage.

Compensation procedures will proceed in parallel. Cetus is developing a separate compensation contract so that affected users can claim remaining losses. Pools that were unaffected will continue operating as usual, and after recovery is completed, all core product features will be resumed.

A Cetus representative stated, "We are working closely with key partners for the restoration and relaunch of the Sui DeFi ecosystem," and added, "We will restore user trust and provide a safer environment."