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Coin Edition 2025-05-24 18:00:00

Cetus Blockchain Proposes On-Chain Vote and $5M Bounty After $223M Cetus DeFi Hack

Cetus Blockchain Proposes On-Chain Vote and $5M Bounty After $223M Cetus DeFi Hack

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 i… The post Cetus Blockchain Proposes On-Chain Vote and $5M Bounty After $223M Cetus DeFi Hack appeared first on Coin Edition .

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