CETUS Surges into Top 10 DEXs by Volume Despite Ongoing User Complaints
CETUS, the Sui and Aptos-based decentralized exchange (DEX), has resumed operations one month after it experienced a massive hack.
According to reports, the platform recovered $162 million of stolen funds and received a $30 million loan from the Sui Foundation to boost the return.
Besides resuming regular operations, CETUS embarked on a compensation program to repay users affected by the recent hack. One such user responding to the crypto platform’s post on X reported receiving 86% of his SUI holding from the vault. However, another user noted a 27% gap in a supposedly unaffected liquidity pool (LP), seeking an explanation for the missing funds.
It is worth noting that the Sui team recovered part of the stolen funds after the network validators froze the hacker’s wallet. The move triggered a heated debate across the crypto community, with many users questioning Sui’s decentralization and the practice where a few validators can control a network’s protocol because they have superior voting power.
In a blog post after the attack, CETUS told users it had patched the vulnerability, fixed all affected pool data, rebalanced assets and pools, and developed a compensation strategy. In addition, the CETUS team stated that it had initiated a process for security audits on smart contracts before relaunching.
Per the planned compensation, the team allocated 15% of the total CETUS supply, including all the team’s unvested tokens, to compensate affected users. However, it is worth noting that the CETUS relaunch has not come without complications, such as users complaining about their inability to withdraw funds from the pool.
Despite the complaints, CETUS returned among the top 10 decentralized exchanges by daily trading volume shortly after the relaunch.
That could signal a positive development when judging from face value. However, most transactions could involve users seeking to claim their funds from the trading platform after a one-month waiting period.