- Sui Foundation’s $5 million bounty targets Cetus Protocol hacker post-exploit.
- $223 million Cetus hack prompts market fall.
- Expert criticism on bounty strategy emerges.
The Sui Foundation announced a $5 million bounty on May 23, 2025, seeking information on the hacker behind the $223 million Cetus Protocol breach.
The incident has sparked market volatility, raising concerns about blockchain centralization and bounty effectiveness among industry experts.
$223 Million Cetus Hack Spurs $5 Million Bounty
The Sui Foundation issued a $5 million bounty to unearth the identity of the Cetus Protocol attacker. Cetus Protocol affected by a $223 million hack, previously offered hacker amnesty, which went unanswered.
Key players include Inca Digital , aiding in the bounty execution. Despite faced challenges, experts like ZachXBT critique the bounty’s lack of clear compensation for investigative efforts.
ZachXBT, On-chain Investigator – “The bounty feels vague and unhelpful; these offers only pay upon success without considering the significant upfront investigation work.” source
Sui Tokens Plummet After Cetus Protocol Breach
The hack reverberated through markets, heavily impacting Sui tokens. Security expert Yu Xian noted the investment risk in pursuing such cases, stressing uncertain outcomes without upfront support.
The Sui Foundation’s commitment is demonstrated through the $5 million bounty to resolve the breach, despite potential drawbacks and criticisms surrounding decentralization within the Sui’s network architecture.
Debate on Blockchain Governance Resurfaces Post-Hack
Similar interventions have raised centralization concerns before, as seen with the $162 million frozen by Sui validators. Such control can spark debate about blockchain governance models.
Historical trends suggest protracted bounty pursuits with mixed outcomes. Industry experts highlight the necessity for nuanced approaches and substantial backing to achieve meaningful resolutions.
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