Can SUI recover from this?

[Ethan_Crypto]

That’s a brutal hit $220M drained is no small thing. If Cetus was the go-to DEX on SUI, this could shake user trust hard, especially with token prices crashing. SUI’s response in the next 48 hours will be critical. If they move fast with transparency, audits, and user protection, there’s a path to recovery but it won’t be easy. This is a big test for the ecosystem.

https://x.com/anytwocardzz/status/1925512513841467574?s=46

[hyudien]

That’s a brutal hit $220M drained is no small thing. If Cetus was the go-to DEX on SUI, this could shake user trust hard, especially with token prices crashing. SUI’s response in the next 48 hours will be critical. If they move fast with transparency, audits, and user protection, there’s a path to recovery but it won’t be easy. This is a big test for the ecosystem.

https://x.com/anytwocardzz/status/1925512513841467574?s=46

This will be a difficult situation because SUI has just become a concern with its extraordinary ecosystem growth in the web3 industry but is facing the toughest challenges after this incident. Automatically, public trust, especially investors, will decrease. In my opinion this incident will hinder and even stop SUI's growth in the future if it does not recover.

[TastyChillySauce00]

That’s a brutal hit $220M drained is no small thing. If Cetus was the go-to DEX on SUI, this could shake user trust hard, especially with token prices crashing. SUI’s response in the next 48 hours will be critical. If they move fast with transparency, audits, and user protection, there’s a path to recovery but it won’t be easy. This is a big test for the ecosystem.

https://x.com/anytwocardzz/status/1925512513841467574?s=46

They said they frozen the funds stolen about $160m and will be restored to the cetus pool as soon as possible.
So i kinda expecting recovery but it's still money lost. so yeah, not a good outlook.

[FinneysTrueVision]

The validators managed to freeze most of the funds before the attacker bridged them to Ethereum. I don’t know if they will do a hard fork to recover these funds, but even if users are partially repaid, the value of their tokens has plummeted and everyone is going to have concerns about security going forward. Most users will probably move to other blockchains. SUI developers are going to need to offer significant incentives that are not just worthless tokens created out of thin air if they are going to remain a major player.

[gunhell16]

That’s a brutal hit $220M drained is no small thing. If Cetus was the go-to DEX on SUI, this could shake user trust hard, especially with token prices crashing. SUI’s response in the next 48 hours will be critical. If they move fast with transparency, audits, and user protection, there’s a path to recovery but it won’t be easy. This is a big test for the ecosystem.

https://x.com/anytwocardzz/status/1925512513841467574?s=46

I saw that news yesterday, I think most of the hacked ones were from pools under SUI if I am not mistaken in this matter. If I look at it, it was not SUI itself that was hacked but the other utility coins under SUI if the news I received is correct.

The tragedy of what happened, especially the other community investors who believe in SUI, is that it will probably really affect SUI, because the coins that were stolen by hackers were under it, hopefully they can still recover, although it is still a huge loss of money that will never be returned.

[asriloni]

Yeah 220m worth of crypto drained from SUI's main LP protocol, Cetus. However, the latest update from Cetus said that they was able recovering like 160 million. It means they got 60 million lost in this case.

Also, the good news is that they will be re-depolying the money who were able being secured. However, almost all of SUI based alts were dropped like 80% - 90%. Still the re-deploy of liquidity will able to recover it all.

I don't know when Cetus will re-deply, but i hope soon.

[makishart]

Now cetus is trying to negotiate with the hacker yet the hacker still gives no response although cetus proposing 6m reward for white hat bounty and let the hacker go free without legal consequence.
A really important time for cetus right now, every second counts whether they gonna get their money back or not.

[dansus021]

Sui already down because of this news and what do u mean by recover from this, first of all the hacked happen in cetus so is not SUI mistake but cetus so CETUS should answer all the question tho because this is the biggest dex on sui and affect on all token that have liquidity on sui then it has affect on SUI price,

Second the price of SUI already reached new all time high couple month ago the supply is 10B and already reach new ATH of 5.3 USD so small correction to 3 USD is fair enough in my opinion tho. After hit by the storm sui seems fine at 3 USD per token meaning this is the fair price atleast for now.

[nelson4lov]

Situations like this are bad especially for a new chain like SUI that has been stealing the spotlight in recent times. The only problem with this is that the chain itself might be secured but the project that was hacked was the only entity with vulnerable code that got exploited.

Still, SUI foundation has to compensate users somehow because they announced that the chain was ready for users and their liquidity when they started their ultra marketing campaign. They need to reassure users that funds breached to SUI and used on their top Dapps are SAFU.

[TastyChillySauce00]

Situations like this are bad especially for a new chain like SUI that has been stealing the spotlight in recent times. The only problem with this is that the chain itself might be secured but the project that was hacked was the only entity with vulnerable code that got exploited.

Still, SUI foundation has to compensate users somehow because they announced that the chain was ready for users and their liquidity when they started their ultra marketing campaign. They need to reassure users that funds breached to SUI and used on their top Dapps are SAFU.

From their recent FAQ it seems they will compensate their users even using their own resources and is waiting sui validators to vote on the recovery of the frozen funds.

https://cetusprotocol.notion.site/Cetus-Community-Update-Latest-Updates-Ongoing-Work-1fe1dbf3ac8680798354ffc658170741

[nelson4lov]

~Snipped.

From their recent FAQ it seems they will compensate their users even using their own resources and is waiting sui validators to vote on the recovery of the frozen funds.

https://cetusprotocol.notion.site/Cetus-Community-Update-Latest-Updates-Ongoing-Work-1fe1dbf3ac8680798354ffc658170741

Decent update by the Cetus protocol team.

I feel bad when teams building hard like this get into situations like this—instead of focusing on growth, they have to focus on making users whole and earning trust back which isn't going to be an easy task. But SUI foundation and the Cetus team need to do it to regain users trust in their chain.

The validators will definitely vote for the recovery so it's a matter of when not if.

[bbc.reporter]

That’s a brutal hit $220M drained is no small thing. If Cetus was the go-to DEX on SUI, this could shake user trust hard, especially with token prices crashing. SUI’s response in the next 48 hours will be critical. If they move fast with transparency, audits, and user protection, there’s a path to recovery but it won’t be easy. This is a big test for the ecosystem.

https://x.com/anytwocardzz/status/1925512513841467574?s=46

This will be a difficult situation because SUI has just become a concern with its extraordinary ecosystem growth in the web3 industry but is facing the toughest challenges after this incident. Automatically, public trust, especially investors, will decrease. In my opinion this incident will hinder and even stop SUI's growth in the future if it does not recover.

Agreed. This will be a hindering occurrence on Sui and the development of their ecosystem. However, can this considered irrecoverable? No, I reckon. If the developers continue to develop and if their community continue to hold to hold their coins and continue to support this blockchain, it will certainly recover.

Ethereum recovered after the DAO hack. This is the greatest example of recoverability in the cryptospace.

[bitLeap]

That’s a brutal hit $220M drained is no small thing. If Cetus was the go-to DEX on SUI, this could shake user trust hard, especially with token prices crashing. SUI’s response in the next 48 hours will be critical. If they move fast with transparency, audits, and user protection, there’s a path to recovery but it won’t be easy. This is a big test for the ecosystem.

https://x.com/anytwocardzz/status/1925512513841467574?s=46

Cetus clearly cannot guarantee that they can recover from what happened to their system. Even if I see them continue to provide the latest updates regarding the improvements made to their x channel. But still traders will avoid it for a while or even forever. It all depends on how much liquidity is now in Cetus to cover the losses. If they can't prove that then Cetus is definitely over.

[asriloni]

Cetus clearly cannot guarantee that they can recover from what happened to their system. Even if I see them continue to provide the latest updates regarding the improvements made to their x channel. But still traders will avoid it for a while or even forever. It all depends on how much liquidity is now in Cetus to cover the losses. If they can't prove that then Cetus is definitely over.

It's totally depends on the validator of SUI network. If they agree to rollback the blockchain to recover the fund. The money will be back, and decreasing their total lost due tot he hack. The only problem is that the story about SUI as decentralized blockchain is just a myth because it can be rolled back by the validators.

Just proving how SUI blockchain is not even immutable blockchain.

On other hand, i'm also doubting Cetus's capability in giving compensation or recover 60 millions that lost to the hacker. They're just small protocol, and not even have billions TVL. Using their platform fees impossible to help them to recover 60 milion.