Sui to Vote on Upgrade as Cetus Sets $5M Hacker Bounty
The post Sui to Vote on Upgrade as Cetus Sets $5M Hacker Bounty appeared on BitcoinEthereumNews.com.
Sui froze $162M in stolen assets after the $223M Cetus DeFi hack on May 22, 2025. Cetus offers a $5M bounty for tips leading to the hacker’s identification and global arrest. Cetus’ proposed on-chain vote could return frozen funds to users, pending community approval. The Sui blockchain and its decentralized exchange, Cetus, are working together to address the aftermath of a $223 million hack that occurred on May 22, 2025. After the attack, security teams froze $162 million of the compromised assets while $60 million in digital funds were moved to Ethereum. In a direct appeal, Sui and Cetus have asked the community to approve a protocol upgrade to unfreeze the remaining funds and restore them to user accounts. Cetus’ development team explained that only a community-wide, on-chain vote can authorize this protocol upgrade. Validators and SUI stakers are encouraged to participate in the decision, ensuring transparent governance. According to the Cetus Protocol, no party can impose a unilateral fix, highlighting the importance of decentralized oversight in crisis recovery. Swift Security Actions and New Protocol Upgrade for Asset Recovery Cetus and its partners responded to the hack by using new technology and better governance. Following the detection of the attack, the Sui Foundation and Cetus developers teamed up with Inca Digital and law enforcement globally to prevent further losses. According to security experts, the key problem was a weakness in “get_delta_a” in Cusets’s code, which allowed the attacker to manipulate protocol liquidity and extract assets. By collaborating, Sui validators took steps to freeze stolen funds at the blockchain level to avoid any withdrawals by the attacker. As a result of the full blockade, $162 million was halted from movement, making the stolen funds unusable despite appearing on-chain. To protect the blockchain’s immutability, Sui developers developed a way to return the…
Filed under: News - @ May 24, 2025 6:22 pm