Cetus secures $220M frozen funds in multisig wallet

Sui-based decentralized exchange (DEX) Cetus, which recently suffered a $220 million hacking incident, announced on its official X account that the previously quarantined funds have been securely transferred to a multisig trust wallet jointly managed by Cetus, the Sui Foundation and OtterSec. With the funds now secured, Cetus has officially entered the next phase of its recovery process, focusing on contract upgrades, liquidity restoration and preparations for relaunch, with the team working around the clock. This move follows the Sui community’s approval of a governance proposal to transfer the frozen funds to the multisig wallet for safekeeping.