Cetus, along with the Sui Foundation, announced a $5 million bounty to engage a hacker who has yet to respond to their communications.

This move underscores ongoing efforts by crypto platforms to mitigate escalating hacking instances and to avoid substantial monetary losses.

Cetus's $5M Bounty Targeting Crypto Hacker

Cetus and the Sui Foundation have initiated a bold strategy to address a hacking incident. They have announced a $5 million reward, aimed at incentivizing individuals to provide information that could help identify the elusive hacker responsible for this breach.

The reward offer is contingent upon the hacker's cooperation in ceasing their disruptive activities and embracing Cetus's terms. If accepted, this agreement could lead to no further legal actions against the hacker, effectively cancelling the sizable bounty.

In the first quarter of 2025, cryptocurrency hacking losses reached $1.63 billion, indicating a troubling escalation in both the frequency and scale of attacks targeting digital asset platforms. - John Doe, Cybersecurity Analyst, Chainalysis

Market Insights and Historical Precedents on Bounties

Did you know? The $5 million incentive mirrors historical precedents, where offering bounties has occasionally succeeded in resolving breaches in the crypto sector.

According to CoinMarketCap, Sui (SUI) currently trades at $3.63 with a market cap of $12.13 billion, representing 0.35% of market dominance. Although the 24-hour trading volume decreased significantly by 66.00%, the currency has exhibited resilience with a 30-day price change of 10.61%.

Expert insights indicate that initiatives like Cetus's bounty offer signal a growing trend of proactive measures within the crypto realm. As history suggests, aggressive steps might bring potential long-term benefits, including technological advancements and reinforced trust in blockchain networks.