The Sui Network’s largest decentralized exchange (DEC) and liquidity provider, Cetus Protocol, suffered a massive $260 million crypto hack yesterday. In the latest update, Cetus has offered a $6 million bounty to the hacker to recover the stolen ETH, worth about $56 million. SUI’s Cetus Offers $6M Bounty Post $260M Hack Following the $260 million crypto hack, the Cetus Protocol has announced a time-sensitive settlement offer to the hacker in an attempt to recover the stolen funds. In their latest X post, the team wrote, We have identified the Ethereum wallet address controlled by the hacker responsible for earlier today’s exploit, and reached out to negotiate the return of customer funds. In detail, Cetus and Inca Digital sent a message to the hacker, offering a $6 million white hat deal. According to the deal, if the hacker returns the 20,920 ETH (worth around $56.3 million) and the frozen funds in… Read More at Coingape.com
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Matthew Ruthven is a crypto journalist and blockchain strategist with a passion for exploring the intersection of technology, finance, and decentralized governance. With a background in software development and digital economics, he brings a technical yet accessible approach to analyzing the latest trends in cryptocurrency and Web3 innovation.