US EditionSui Vote on $162M Frozen Cetus Funds Sparks Decentralization Debate: Finance Redefined
- On May 29, Sui validators voted to pass a recovery measure that will release $162 million of the assets frozen after the Cetus Protocol was exploited on May 22.
- The approval followed a $223 million exploit that caused a nearly 20% drop in SUI’s price amid broader geopolitical and market uncertainty.
- The recovery plan received strong backing from the community, with the vast majority of validators and stakers casting their votes in favor, demonstrating unified support for mitigating the attack.
- Analysts note SUI’s price could rebound to retest $3.945 resistance and possibly reach $5.37 or even $10 by year-end if ETF approvals and recovery efforts continue.
- This vote and ongoing ETF speculation have renewed optimism but also reignited decentralization debates over validator authority in freezing onchain funds.
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15 Articles
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Stolen Cetus Funds Secured in Multi-Sig Wallet - Blockchain & Cryptocurrencies Tabloid
Cetus hack sees $160M in stolen funds frozen and secured in a multi-sig wallet on the Sui network. Coordination efforts involved Cetus, Sui Foundation, and validators. The post Stolen Cetus Funds Secured in Multi-Sig Wallet appeared first on Blockchain & Cryptocurrencies Tabloid.
Cetus Hack Update: $160M in Stolen Funds Transferred to Multi-Sig Wallet
In a significant development in the recent Cetus hack, the Sui liquidity provider has successfully transferred about $160 million in stolen funds to a multisig trust wallet, following approval from an on-chain vote. The funds were moved to a secure wallet jointly managed by Cetus, the Sui Foundation, and OtterSec, marking a crucial step in the recovery process. Cetus Hack Fund Recovery Plan Advances, Enters Next Phase Earlier today, Sui blockcha…
Sui community approves release of $162M in tokens frozen during Cetus hack – #CryptoUpdatesGNIT
Validators representing nearly 91% of Sui stake approved an on-chain proposal to release about $162 million seized during last week’s Cetus exploit, allowing the DEX to reimburse users and restore full operations. Cetus said in a social media post that the 48-hour referendum closed on May 29 when more than two-thirds of the network endorsed the measure. Cetus hack victims to be reimbursed fully The approved transaction instructs validators to tr…
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