Cetus DEX Offers $6M Bounty After $220M Hack, Freezes $162M in Stolen Assets

A decentralized exchange built on an undisclosed blockchain suffered a devastating breach on May 22, with attackers making off with $220 million in digital assets. The Cetus team responded with remarkable speed, freezing $162 million of the stolen funds within minutes of detection.

The protocol has taken an unconventional approach to recovery, offering a $6 million white-hat bounty while simultaneously pursuing community governance votes and direct negotiations with the perpetrator. Market observers note the attack’s sophistication, with the entire heist executed in a matter of minutes.

Cetus now faces the complex challenge of recovering remaining funds while maintaining protocol integrity. The incident highlights the persistent security vulnerabilities in decentralized finance, even as the sector matures.