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Invezz 2025-05-27 08:27:12

Sui steps up network protection with new $10 million commitment

Sui steps up network protection with new $10 million commitment

The Sui team is seeking to reassure its community after the Cetus hack with an announcement of a $10 million splash on various security initiatives in its ecosystem. Sui announced this on May 26, revealing in an update that it would be setting aside an additional $10 million investment to bolster network security. This move comes after the impactful $223 million exploit of the Cetus decentralized exchange (DEX). Sui commits $10 million to bolster network security While the hack saw the Sui and Cetus teams swing into action and freeze over $160 million of the funds shortly after, the SUI token has remained bearish since. The same goes for the Cetus protocol token . But as they look to navigate this challenge, the projects are focusing on addressing vulnerabilities, and to start is a $10 million commitment. “The root cause of the Cetus incident was a bug in a Cetus math library, not a vulnerability in Sui or Move. But the impact on users is the same. We need to take a holistic perspective and step up our game on supporting ecosystem security,” Sui wrote on X. Issues of broader transparency of decentralized applications continued after the Cetus attack, with the smart contract pause highlighting what’s at stake as projects try to stay on top of security. Cetus and the Sui Foundation offered a white hat deal for the hacker and later announced a $5 million bounty for information that can help unmask the hacker amid ongoing investigation. However, Sui’s move now shifts to a more proactive approach to network security. “This week, we’ll be talking about some of the security initiatives we already have in place and announce a few new ones to show that we’re serious about supporting Sui builders in securing their apps. We’re kicking this off by committing to spend an additional $10M on security initiatives,” the update reads in part. What next for Cetus? Per the Sui team, the $10 million will include funds earmarked for audits, bug bounty programs and formal verification. Details of how this actually works will be released in coming days and weeks. Crypto continues to face malicious actor threats, including hacks, phishing attacks and such. As shown in recent months, exploits can hit any platform or user in the industry – Bybit’s $1.4 billion hack earlier in the year and Coinbase’s recent user data leak – provide this stark reminder. Cetus said in a May 24, 2025 update that the team was working with Inca Digital, law enforcement and other ecosystem parties in an attempt to recover the $60 million the hacker stole. Meanwhile, the project outlined a protocol upgrade aimed at recovering the $162 million in frozen funds – which will be returned to users. The post Sui steps up network protection with new $10 million commitment appeared first on Invezz

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