Worldcoin’s parent entity, the nonprofit World Foundation, has injected fresh momentum into its biometric-identity project after selling $135 million worth of liquid WLD tokens at spot price to two of its earliest backers, Andreessen Horowitz (a16z) and Bain Capital Crypto. The direct purchase—explicitly “not a venture round… a direct purchase of non-discounted liquid tokens,” according to the foundation—adds the same amount of WLD to circulating supply and leaves no lock-ups or preferential terms on the table. Worldcoin Rakes In $135 Million The sale is meant to bankroll a rapid expansion of Worldcoin’s iris-scanning “Orb” hardware in the United States—still the project’s toughest regulatory theater—and to keep pace with surging demand abroad. “To date, more than 26 million users participate in the World network and more than 12.5 million people have an Orb-verified World ID,” the foundation said in its press release, adding that the capital will help the network become “one of the first self-sustaining protocols.” Related Reading: Worldcoin (WLD) About To Breakout? Analyst Sets Next Target After 4-Month High Andreessen Horowitz’s participation is consistent with its early role in the project. The venture firm was a lead investor in Tools for Humanity—the company that incubated Worldcoin—during its 2021 Series A, making it a foundational backer of the ecosystem even before the World Foundation was established. Market observers were struck by the size and terms of the buy. Bitwise CIO Matt Hougan noted on X that “a16z and Bain just bought $135 m of Worldcoin (WLD) at the current market price … a price that is down 90% over the past 14 months. I’m not sure I’ve ever seen something like that. Intriguing tbh.” When a user suggested the purchase might simply be a “look at this thing that Sam Altman is involved with that’s so cheap,” Hougan replied, “yes, could be.” Worldcoin casts its “proof-of-personhood” scheme as a necessary counterweight to the acceleration of artificial general intelligence. The foundation insists that identity verification tools “should scale at a similar pace to help prepare humanity for the AGI era,” and says the latest funding will be deployed primarily to manufacture more Orbs, subsidize US city roll-outs, and refine the protocol’s fee model. Related Reading: Worldcoin Rejection At $2.1 Sparks Concerns Of Prolonged Downtrend With venture capital titans effectively doubling down at market price—and doing so after a near-90% drawdown—the trade is being interpreted as a high-conviction signal that the biometric-identity narrative may be poised for a second act. Whether that confidence can overcome regulatory headwinds and lingering privacy concerns will define the next chapter for Sam Altman’s most controversial crypto experiment. WLD Chart Check A weekly chart of WLD/USDT (Binance) shows price rebounding in a V-bottom manner from the low at $0.57—the 0-Fib anchor in the current retracement grid—and pushing into the cluster of moving averages that have capped every rally since the beginning of the year. The 20-week EMA ($1.27) is the immediate hurdle; clearing it would expose the 50-week EMA at $1.87 and then the 0.236 Fibonacci retracement at $3.27.The psychologically weighty $5 region around the 0.382 level could come afterwards. Notably, momentum has brightened: the weekly RSI is curling upwards, while higher volume bars confirm fresh dip-buying interest. Still, the longer-term structure remains decisively bearish so long as price trades beneath the $1.33-$1.41 resistance area. At press time, WLD traded at $1.337. Featured image created with DALL.E, chart from TradingView.com
BitcoinWorld Bitcoin: Trump’s Bold Claim on US Dominance in Crypto Explained In a recent statement that has captured the attention of the digital asset world, former U.S. President Donald Trump asserted that the United States is currently ‘dominating’ in the realm of Bitcoin and crypto . This bold claim, reportedly made by Trump and shared by Watcher Guru on X, included a promise to ‘keep it that way.’ But what does this assertion really mean for the rapidly evolving landscape of digital currencies in the US ? What Does “Dominating” Mean for US Crypto? When a figure like Trump speaks about the US ‘dominating’ in Bitcoin and crypto , it can be interpreted in several ways. It could refer to the sheer size of the American market, the level of innovation happening within the country, or perhaps a political stance aimed at fostering growth and leadership in the sector. The US is undoubtedly a major player, boasting significant institutional investment, a large base of retail investors, and numerous blockchain companies pushing technological boundaries. Market Size: The US holds a substantial portion of the global crypto market capitalization and trading volume. Innovation Hub: Silicon Valley and other tech centers are home to many leading blockchain and crypto startups. Institutional Adoption: American financial institutions have shown increasing interest and involvement in Bitcoin and other digital assets. Talent Pool: The US attracts top talent in blockchain development and cryptography. However, the idea of ‘dominance’ is complex. While the US has strengths, it also faces significant challenges, particularly concerning regulation . The Impact of US Regulation on Crypto Dominance One of the most frequently discussed aspects of the US crypto market is its regulatory environment. Unlike some other countries that have established clear frameworks, the US approach has often been described as fragmented and uncertain. Various agencies, including the SEC, CFTC, and Treasury, have asserted jurisdiction, leading to confusion and sometimes conflicting guidance. This regulatory uncertainty can be seen as both a challenge and, paradoxically, a driver of innovation (as companies navigate complex rules). However, many in the industry argue that clearer, more predictable regulation is essential for the US to truly maintain or enhance its leading position. For instance, the ongoing debates surrounding whether certain cryptocurrencies are securities or commodities, and the lack of a clear path for registering and operating crypto businesses, can hinder growth and potentially push innovation offshore. Trump ‘s statement suggests a desire for the US to be a leader, which implies a need to address these regulatory hurdles effectively. Trump’s Evolving Stance on Bitcoin and Crypto Interestingly, Trump ‘s public stance on Bitcoin and crypto has evolved over time. Previously, he expressed skepticism, even calling Bitcoin a ‘scam against the dollar.’ His current position, emphasizing US dominance and the intent to ‘keep it that way,’ signals a significant shift. This evolution likely reflects the growing mainstream acceptance of digital assets and their increasing relevance in the global economy and political discourse. His current view aligns more closely with a segment of the Republican party that is increasingly vocal about supporting crypto innovation and pushing back against what they see as overreaching regulation from agencies like the SEC. This political alignment could have significant implications for future policy if he were to return to office. Why is US Leadership in Crypto Important? Maintaining a leading position in the Bitcoin and crypto space is seen by proponents as crucial for the US economy and its future competitiveness. Leadership in this sector can translate into: Economic Growth: Fostering the growth of crypto companies creates jobs and stimulates investment. Technological Advantage: Being at the forefront of blockchain technology ensures the US remains a global leader in digital innovation. Financial Inclusion: Digital assets can potentially offer new avenues for financial services to underserved populations. National Security: A strong domestic crypto industry can be important for cybersecurity and countering illicit finance, though this is also a complex area of regulation . Trump ‘s emphasis on ‘dominance’ highlights the geopolitical and economic importance he now seems to place on this sector. Challenges to Maintaining Dominance Despite Trump ‘s optimistic outlook, the US faces several challenges in maintaining its perceived dominance: Regulatory Competition: Other countries and regions are actively creating clearer regulatory frameworks to attract crypto businesses. Talent Migration: Regulatory uncertainty can lead companies and talent to move to more favorable jurisdictions. Public Perception: Negative headlines related to scams or market volatility can impact broader adoption and political will. Infrastructure: Ensuring robust and secure digital infrastructure is essential for mass adoption. Effectively navigating these challenges will require coordinated efforts between policymakers, regulators, and the private sector. What’s Next for Bitcoin and Crypto in the US? Trump ‘s statement adds another layer to the ongoing political discussion surrounding Bitcoin and crypto in the US . As the country heads towards future elections, the stance of political leaders on digital assets is becoming an increasingly important factor for voters and the industry alike. His commitment to ‘keep it that way’ suggests a potential policy direction focused on fostering growth, although the specifics of how that would be achieved, particularly regarding regulation , remain to be seen. The conversation around US dominance in crypto is far from over. It involves complex interplay between technological innovation, market forces, and the ever-evolving landscape of regulation . Trump ‘s words serve as a reminder that digital assets are now firmly on the political radar, and future policies will significantly shape the country’s role in this global phenomenon. Conclusion Donald Trump ‘s recent assertion that the US is ‘dominating’ in Bitcoin and crypto is a notable moment, signaling a shift in his public stance and highlighting the growing political recognition of the sector’s importance. While the US has significant strengths contributing to its position, maintaining true dominance will require addressing persistent challenges, particularly the need for clear and effective regulation . The future of Bitcoin and crypto in the US will likely be shaped by continued technological advancement, market dynamics, and crucially, the policy decisions made by its leaders. To learn more about the latest crypto market trends, explore our article on key developments shaping Bitcoin institutional adoption. This post Bitcoin: Trump’s Bold Claim on US Dominance in Crypto Explained first appeared on BitcoinWorld and is written by Editorial Team
XRP Ledger enters the MiCA era with its first fully compliant euro stablecoin, unlocking institutional-grade euro payments, stablecoin utility, and real-world asset tokenization. MiCA-Compliant Euro Stablecoin Hits XRP Ledger Ripple shared on May 22 that Schuman Financial’s euro-backed stablecoin, EURØP, has become the first to launch on the XRP Ledger (XRPL) in full compliance with
BitcoinWorld Wormhole Dogecoin: Unlocking DOGE’s Potential in the Solana Ecosystem Get ready, crypto enthusiasts! A major development is set to shake up the blockchain world. Wormhole, a leading interoperability platform, has announced a groundbreaking move: bringing Dogecoin (DOGE), the popular meme coin, directly into the Solana ecosystem. This isn’t just another simple bridge; it’s about enabling native utilization of DOGE within Solana’s vibrant and fast-growing decentralized finance (DeFi) and application landscape. This strategic integration promises to unlock new possibilities for DOGE holders and significantly enhance the Solana ecosystem. Wormhole Dogecoin: A Seamless Connection Wormhole is known for its robust framework connecting various blockchains, facilitating the transfer of tokens and data. Their latest initiative focuses on the Wormhole Dogecoin connection, aiming to create a more direct and integrated experience for users. Unlike traditional methods that often involve wrapping assets into a synthetic version on the destination chain, Wormhole’s approach with DOGE on Solana is designed for native utility. This means that once integrated, DOGE can potentially be used in Solana-based applications as if it were a native Solana token (like SOL or SPL tokens), rather than a wrapped representation. This seamless connection reduces friction, simplifies user experience, and potentially opens up a wider range of use cases for the popular meme coin within the Solana network. Understanding the DOGE Solana Integration The core of this DOGE Solana integration lies in cutting-edge technology. Wormhole is leveraging zero-knowledge proofs (ZKPs) and its Native Token Transfer (NTT) framework to achieve this deep integration. The announcement highlights collaboration with Psy and RISC Zero, key players in the ZKP and blockchain infrastructure space, to build the necessary infrastructure. Let’s break down why this is different from typical bridging: Traditional Bridging/Wrapping: You lock your DOGE on the Dogecoin chain, and an equivalent wrapped token (e.g., wDOGE) is minted on Solana. This wrapped token represents your locked DOGE but isn’t the original asset itself. Wormhole’s Approach: While the exact technical flow for native utilization is complex, the goal is to enable interaction with DOGE within Solana dApps without necessarily needing a wrapped intermediary for every single transaction or application. The ZKP layer verifies the state and transactions on the Dogecoin chain securely and efficiently, allowing the Solana side to trustlessly recognize and interact with the DOGE asset. This method aims to minimize the risks associated with wrapped assets and bridges, offering a more secure and integrated way to utilize assets across chains. It’s a significant step towards true cross-chain interoperability. Wormhole ZKP: Powering Trustless Interactions Zero-Knowledge Proofs (ZKPs) are a cryptographic technique that allows one party (the prover) to prove to another party (the verifier) that a statement is true, without revealing any information beyond the validity of the statement itself. In the context of blockchain interoperability, Wormhole ZKP integration means that the Solana chain can verify the state or actions happening on the Dogecoin chain (like a deposit or withdrawal) without needing to trust an intermediary or process the entire Dogecoin blockchain data itself. Think of it like this: Concept How ZKP Helps Verification Solana needs to know if a user truly holds DOGE on the Dogecoin chain or if a transaction is valid. ZKP provides a verifiable proof without revealing private details or requiring full chain syncing. Security Reduces reliance on trusted third parties or multi-signature schemes that can be potential points of failure or attack vectors for bridges. The proof is cryptographically secure. Efficiency Verifying a small ZKP is much faster and cheaper than processing data from another entire blockchain. This is crucial for enabling seamless interactions. Interoperability Allows disparate chains with different architectures (like Dogecoin’s UTXO model and Solana’s account model) to communicate and trust each other’s state. The NTT framework provides the structure for how tokens are handled in this cross-chain, ZKP-verified manner. Psy and RISC Zero contribute the specific ZKP technology and implementation details needed to make this secure and functional. Benefits for the Solana Ecosystem Integrating a major cryptocurrency like DOGE directly brings substantial benefits to the Solana Ecosystem . Dogecoin boasts a massive market capitalization and a large, active community. By making DOGE natively usable on Solana, several positive outcomes are anticipated: Increased Liquidity: DOGE holders can bring their assets into Solana’s DeFi protocols, increasing the total value locked (TVL) and liquidity available for trading, lending, and borrowing. Expanded User Base: The integration attracts the large Dogecoin community to explore and participate in Solana’s dApps, potentially onboarding new users to the network. New Use Cases: DOGE can be utilized in novel ways – perhaps as collateral in lending protocols, for payments within Solana-based games or marketplaces, or integrated into decentralized exchanges (DEXs). Enhanced Activity: More users and more assets naturally lead to increased transaction volume and overall activity on the Solana network. Diversification: Adds another significant asset class to the range of cryptocurrencies available for use within Solana, making the ecosystem more robust and versatile. This move solidifies Solana’s position as a leading platform for decentralized applications and cross-chain activity. Advancing Cross-chain Interoperability The Wormhole Dogecoin integration is a significant step forward for Cross-chain Interoperability in the broader crypto landscape. Interoperability, the ability for different blockchains to communicate and interact with each other, is crucial for the future growth and adoption of decentralized technologies. Currently, the blockchain space is fragmented, with assets and applications siloed on individual networks. Projects like Wormhole are building the bridges and underlying infrastructure to connect these disparate chains. The use of advanced techniques like ZKPs for native asset utilization, rather than just simple token transfers, represents an evolution in how interoperability is achieved. It moves beyond just moving value to enabling actual *utility* across networks. This integration demonstrates that even chains with very different architectures (like Dogecoin’s proof-of-work, UTXO-based system and Solana’s proof-of-stake, account-based system) can be securely and effectively connected. It sets a precedent for how other ‘older’ or differently structured blockchains might be integrated into newer, faster ecosystems, fostering a more connected and efficient decentralized future. Key Benefits of the Wormhole Dogecoin Integration Let’s summarize the main advantages this development brings: Native Utility: Use DOGE within Solana dApps without relying solely on wrapped tokens. Enhanced Security: Leveraging ZKPs for trustless verification potentially reduces risks compared to traditional bridge models. Increased Accessibility: DOGE holders gain easy access to the fast and low-cost Solana ecosystem. Boost for Solana DeFi: Adds significant liquidity and a large user base to Solana’s decentralized finance protocols. Pioneer in Interoperability: Demonstrates advanced techniques for connecting disparate blockchain architectures. Potential Challenges and Considerations While exciting, any new integration also comes with potential challenges: Technical Complexity: ZKP technology is complex. Ensuring its flawless implementation and long-term security is paramount. User Education: Users need to understand how this integration works, how to move DOGE, and the differences from traditional bridging. Adoption Rate: While the integration is live, widespread adoption by Solana dApps and DOGE holders will take time. Market Volatility: The price of DOGE and SOL are subject to market fluctuations, which impacts the value of assets utilized within the ecosystem. These are typical considerations for cross-chain initiatives, and the success will depend on execution, security audits, and community uptake. Examples of Potential DOGE Use Cases on Solana What might this look like in practice? Here are a few hypothetical examples: Decentralized Trading: Swapping DOGE for other SPL tokens on Solana DEXs like Orca or Raydium. Lending and Borrowing: Using DOGE as collateral to borrow other assets or lending DOGE to earn yield on Solana lending protocols. NFT Marketplaces: Potentially using DOGE to buy or sell NFTs on Solana marketplaces (depending on platform integration). Payments: Using DOGE for payments within Solana-based games or applications that integrate the Wormhole connection. The possibilities expand as more Solana protocols integrate support for the DOGE asset via Wormhole’s framework. Actionable Insights for Readers If you’re interested in this development, here’s what you might consider: Stay Informed: Follow Wormhole and Solana announcements for updates on the integration’s progress and supported applications. Explore Solana: If you’re a DOGE holder unfamiliar with Solana, now might be a good time to learn about its ecosystem and popular dApps. Understand the Tech: Take some time to read about ZKPs and the NTT framework to grasp the underlying technology enabling this integration. Exercise Caution: As with any new cross-chain activity, start with small amounts if you decide to experiment and ensure you are using official, audited platforms. A Compelling Step Forward Wormhole’s integration of Dogecoin into the Solana ecosystem using ZKP and the NTT framework marks a significant milestone. It’s more than just connecting two chains; it’s about enabling deeper, more native interaction between disparate crypto assets and networks. This move benefits DOGE by giving it access to a high-throughput, low-cost environment and boosts Solana by introducing a large, active community and substantial liquidity. It represents a tangible advancement in the quest for seamless cross-chain interoperability, paving the way for a more connected and functional decentralized future. To learn more about the latest altcoin trends, explore our articles on key developments shaping Dogecoin and the Solana ecosystem’s price action. This post Wormhole Dogecoin: Unlocking DOGE’s Potential in the Solana Ecosystem first appeared on BitcoinWorld and is written by Editorial Team
COINOTAG News reported on May 23rd that **Immutable**, an Australian blockchain gaming company backed by **Temasek**, has undergone a significant reduction in its workforce. Over the past nine months, the
Dogecoin’s recent performance has captured investor attention, showcasing a possible trajectory toward $0.3 amid fluctuating market dynamics. After successfully retesting the pivotal $0.212 support level, Dogecoin has shown significant upward
Michigan lawmakers have introduced four crypto-related bills covering crypto mining, central bank digital currencies (CBDCs) and crypto in state retirement funds. Republican state Representative Bill Schuette introduced House Bill 4510 on May 21, which would amend Michigan’s Public Employee Retirement System Investment Act to allow the state treasurer, currently Rachael Eubanks, to invest in cryptocurrencies that have averaged a market cap above $250 million over the last calendar year. Bitcoin ( BTC ) and Ether ( ETH ) are the only cryptocurrencies that currently meet that threshold. The bill adds that any cryptocurrencies must be held in the form of an exchange-traded product issued by a registered investment company. A similar bill was introduced in February, permitting the state treasurer to allocate up to 10% of Michigan’s Budget Stabilization Fund into crypto. Republican Representative Bryan Posthumus led the introduction of the second bipartisan crypto bill on May 21, HB 4511 , which would prohibit Michigan from banning crypto or imposing licensing requirements on crypto holders. It would also prohibit state officials from advocating or supporting a proposed CBDC from the federal government. The bill defines advocating or supporting a CBDC to involve issuing a memorandum or official statement endorsing a CBDC proposal related to its testing, adoption or implementation. Source: Bitcoin Laws Michigan to consider two crypto mining bills HB 4512 , the third crypto bill introduced by a bipartisan group led by Democratic Representative Mike McFall, would create a Bitcoin mining program allowing operators to set up at abandoned oil and gas sites. A supervisor would be assigned to determine how much oil or gas could reasonably be expected to be produced from the site, who the last operator of the site was and how long it has been left unused. Related: US Senate moves forward with GENIUS stablecoin bill Those seeking to participate in the program would need to submit legal documents outlining their organizational structure, demonstrate their ability to operate as a Bitcoin mining entity and provide estimates of the breakeven price for a profitable venture. The fourth bill, HB 4513 — also filed by a McFall-led bipartisan group — would amend Michigan’s income tax laws to include income obtained from the proposed Bitcoin mining program. Magazine: Crypto wanted to overthrow banks, now it’s becoming them in stablecoin fight
Kraken introduces tokenized U.S. stocks for global investors, enhancing accessibility. Continue Reading: Kraken’s New Service Empowers Global Investors with Tokenized U.S. Stocks The post Kraken’s New Service Empowers Global Investors with Tokenized U.S. Stocks appeared first on COINTURK NEWS .
On May 23rd, COINOTAG reported significant movements in the Ethereum market as prominent whale James Wynn initiated a highly leveraged long position at a multiplicative rate of 25x. This strategic
BitcoinWorld Massive Cetus DEX Exploit: Settlement Offered in Urgent Fund Recovery Push The world of decentralized finance (DeFi) can be incredibly innovative, offering exciting opportunities, but it also comes with inherent risks. One such risk recently materialized for users of Cetus DEX , a prominent decentralized exchange operating on the Sui blockchain. The platform confirmed a significant exploit , resulting in a staggering loss of approximately $223 million. This news sent ripples through the Sui ecosystem, highlighting the critical need for robust security measures in the fast-evolving DeFi space. However, Cetus has quickly moved to address the situation, initiating intensive fund recovery efforts and even proposing a novel approach to retrieve the stolen assets. What Happened? The Cetus DEX Exploit Detailed In a recent announcement shared via their official X (formerly Twitter) account, the Cetus team confirmed the security incident. While the initial shock of the $223 million figure was substantial, the team provided crucial updates on their immediate response and ongoing investigations. They stated that they have successfully identified the root cause of the vulnerability that led to the exploit. This is a critical first step in preventing future incidents of this nature. Following the identification, the team acted swiftly to patch the vulnerability, securing the protocol against further attacks. This rapid response demonstrates a commitment to platform integrity and user safety moving forward. The exploit represents one of the largest single incidents seen on the Sui network to date, bringing significant attention to the security posture of decentralized applications within the ecosystem. The Cetus team has not publicly disclosed the specific technical details of the exploit’s root cause yet, likely to avoid providing information that could be exploited by others or interfere with ongoing investigations. However, the confirmation that it has been identified and patched is reassuring for the protocol’s future operation. Tracing the Attacker: A Key Step in Fund Recovery A significant development in the wake of the Cetus DEX exploit is the progress made in tracing the stolen funds. The Cetus team announced that they have successfully traced the hacker’s movements and identified an associated Ethereum wallet address. This is a crucial step in any crypto exploit scenario, as tracing funds across blockchains can be complex but is essential for potential recovery or legal action. Engaging with relevant parties has been a priority for Cetus. This includes working closely with other participants within the Sui ecosystem, potentially other protocols, validators, or infrastructure providers who might have relevant data or capabilities. They have also engaged with third-party security experts and blockchain analytics firms, who specialize in tracing illicit transactions across various networks. Furthermore, Cetus has involved law enforcement agencies. Bringing in legal authorities is a standard procedure for exploits of this magnitude and can aid in freezing assets, pursuing legal charges, and facilitating international cooperation in asset recovery. The Whitehat Settlement Offer: A Path to Settlement? Perhaps the most interesting development in the Cetus response is the offer of a whitehat settlement to the hacker. In blockchain security, a ‘whitehat’ hacker typically refers to someone who breaches a system to expose vulnerabilities, often returning funds or working with the team. In this context, Cetus is proposing treating the attacker as if they were a whitehat, offering terms for the return of the stolen funds in exchange for not pursuing legal action. This strategy is sometimes employed in large exploits as a pragmatic approach to fund recovery . Pursuing legal action can be lengthy, costly, and may not always result in the full recovery of assets, especially when dealing with attackers who may be in different jurisdictions or have sophisticated methods of obscuring their identity and moving funds. Offering a settlement, even if it involves allowing the hacker to keep a portion of the stolen amount (a common element in whitehat settlements), can sometimes be the fastest and most effective way to retrieve the majority of the funds for affected users. Cetus stated they are actively negotiating these terms with the individual or group responsible for the exploit. The success of this approach hinges on the attacker’s willingness to engage and agree to the proposed conditions. If a settlement is reached, it would bypass the complexities and uncertainties of prolonged legal battles and potentially accelerate the process of making affected users whole. Implications for Sui and the DeFi Ecosystem The Cetus DEX exploit is a stark reminder of the security challenges inherent in decentralized finance. While Sui is a relatively new blockchain, incidents like this underscore that even innovative architectures are not immune to vulnerabilities in the applications built upon them. For the Sui ecosystem, this event highlights the importance of rigorous auditing and security practices for all dApps launching on the network. For users, this incident reinforces the need for caution and due diligence when interacting with DeFi protocols. While the promise of high yields and novel financial instruments is attractive, understanding the potential risks, including smart contract vulnerabilities and platform security, is paramount. Diversification and only investing what you can afford to lose remain golden rules in this space. The outcome of Cetus’s fund recovery efforts and the proposed settlement will be closely watched by the entire DeFi community. A successful recovery, particularly through a whitehat settlement, could set a precedent for handling similar incidents in the future. Conversely, challenges in retrieving funds would highlight the difficulties faced by protocols and users after a major security breach. Moving Forward: What to Expect Cetus has promised to release an official incident report detailing the exploit, its cause, and the steps taken. This report will be crucial for the community and other protocols to learn from this event and strengthen their own security measures. Users of Cetus DEX will be eager for updates on the settlement negotiations and the timeline for any potential recovery or compensation process. The team’s proactive communication and engagement with various stakeholders, including law enforcement and third-party experts, are positive signs. The focus remains on retrieving the stolen assets and mitigating the impact on the Cetus community and the broader Sui ecosystem. The path to full fund recovery after an exploit of this size is often long and complex, but the steps taken by Cetus so far – identifying the vulnerability, patching it, tracing the funds, and offering a settlement – demonstrate a determined effort to navigate this challenging situation. Conclusion: Navigating the Aftermath The $223 million exploit on Cetus DEX serves as a significant event for both the protocol and the Sui blockchain. While the loss is substantial, the rapid response from the Cetus team, including identifying the vulnerability, engaging with authorities, and pursuing fund recovery through tracing and a proposed settlement , offers a glimmer of hope. The success of these efforts will ultimately determine the long-term impact on Cetus and provide valuable lessons for the entire DeFi landscape on the importance of security, rapid incident response, and potential strategies for asset recovery in the face of malicious attacks. To learn more about the latest Sui and DeFi trends, explore our articles on key developments shaping Sui ecosystem growth and security challenges. This post Massive Cetus DEX Exploit: Settlement Offered in Urgent Fund Recovery Push first appeared on BitcoinWorld and is written by Editorial Team