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Coin Edition 2025-05-31 15:21:13

$160M in Cetus Exploit Funds Moved to Multisig as Sui Community Vote Ends

$160M in Cetus Exploit Funds Moved to Multisig as Sui Community Vote Ends

$160M in hacked funds were moved to a multisig wallet after the Sui community vote approval. Cetus targets full protocol recovery within one week, including CLMM upgrades. Compensation contract and asset rebalancing are underway as investigations continue. A week after a security breach hit the Cetus protocol, a community-led recovery initiative has resulted in the secure transfer of approximately $160 million in frozen funds to a multisig wallet. The funds, linked to the recent exploit, are now jointly managed by Cetus, the Sui Foundation, and blockchain security firm OtterSec. This marks a significant step in the recovery process initiated through an on-chain vote, which was supported by over 90% of validators and stakers on the Sui Network. The recovery process began with a formal proposal from Cetus requesting a community vote to recover assets held on-chain. The Sui Foundation deployed a voting mechanism that allowed validators and SUI token holders to participate. According to the Sui Foundation, 90.9% of validators voted in favor of the upgrade, enabling the transfer of the quarantined funds to a secure, multisig trust wallet. Progress Update Foll… The post $160M in Cetus Exploit Funds Moved to Multisig as Sui Community Vote Ends appeared first on Coin Edition .

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