{"id":53388,"date":"2025-05-30T14:37:53","date_gmt":"2025-05-30T14:37:53","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/sui-passes-vote-to-repay-cetus-exploit-victims\/"},"modified":"2025-05-30T14:37:53","modified_gmt":"2025-05-30T14:37:53","slug":"sui-passes-vote-to-repay-cetus-exploit-victims","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/sui-passes-vote-to-repay-cetus-exploit-victims\/","title":{"rendered":"Sui passes vote to repay Cetus exploit victims"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison )<\/b><br \/>\n<\/p>\n<div data-site=\"CoinJournal\">\n<div class=\"-mt-16  mb-8  lg:-mt-20  rounded-md  shadow-md\">\n<div class=\"relative  z-10  post-article-image  rounded  overflow-hidden\" data-site=\"CoinJournal\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2025\/05\/Sui-passes-vote-to-repay-Cetus-exploit-victims-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2025\/05\/Sui-passes-vote-to-repay-Cetus-exploit-victims-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2025\/05\/Sui-passes-vote-to-repay-Cetus-exploit-victims-smartcrop-750x375.png\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2025\/05\/Sui-passes-vote-to-repay-Cetus-exploit-victims-smartcrop-363x181.png\" type=\"image\/jpeg\"\/>\n<\/picture>                            <\/div>\n<\/p><\/div>\n<ul>\n<li>The Sui community has approved returning $162M in frozen assets to Cetus victims.<\/li>\n<li>The funds will be held in a multisig wallet for user repayment.<\/li>\n<li>Sui also launched a $10M security push after the $223M exploit.<\/li>\n<\/ul>\n<p>In a significant move for user restitution and ecosystem resilience, the Sui community has officially approved a vote to return over $160 million in frozen assets following the massive exploit of the Cetus decentralised exchange.<\/p>\n<p>The decision, reached through an on-chain governance vote, marks a decisive moment in the network\u2019s response to one of its most critical security events to date.<\/p>\n<h2>Sui Network validators froze $162M in assets stolen in the Cetus hack<\/h2>\n<p>On May 22, Cetus Protocol suffered a devastating exploit that drained over $223 million from its liquidity pools after attackers exploited a vulnerability in third-party code.<\/p>\n<p>Following the breach, validators on the Sui network acted swiftly to freeze approximately $162 million in stolen assets, preventing further damage.<\/p>\n<p>This rapid intervention by validators set the stage for an organised recovery process, which culminated in the community vote that concluded on May 29.<\/p>\n<p>With 90.9% of validator stake voting in favour of the proposal, 1.5% abstaining, and 7.2% not participating, the governance vote was overwhelmingly approved.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Update \u2013 Validators representing 90.9% of stake have said \u201cYes\u201d in the onchain community vote, and the vote has concluded early. <\/p>\n<p>With this result, the impacted funds will be moved to a multi-sig wallet and held in trust until they can be returned to users according to the plan\u2026 <a href=\"https:\/\/t.co\/qG8aPAhD8e\">https:\/\/t.co\/qG8aPAhD8e<\/a> <a href=\"https:\/\/t.co\/WjiSbLWt8n\">pic.twitter.com\/WjiSbLWt8n<\/a><\/p>\n<p>\u2014 Sui (@SuiNetwork) <a href=\"https:\/\/twitter.com\/SuiNetwork\/status\/1928181165909008690?ref_src=twsrc%5Etfw\">May 29, 2025<\/a><\/p>\n<\/blockquote>\n<p>The recovered funds will now be transferred into a multisignature wallet held in trust, enabling a transparent mechanism for returning assets to affected users.<\/p>\n<p>Cetus, which requested community support shortly after the exploit, has committed to combining the recovered funds with its own treasury and an emergency loan from the Sui Foundation.<\/p>\n<p>This comprehensive recovery package is designed to ensure that all impacted users receive full compensation, thereby restoring trust in the protocol and the broader ecosystem.<\/p>\n<h2>Sui and Cetus are vigorously addressing the May 22 exploit<\/h2>\n<p>Although the vulnerability that led to the exploit was located in Cetus\u2019 own code, the Sui community has treated the incident as a pivotal learning opportunity.<\/p>\n<p>In response to the breach, the Sui Foundation announced a $10 million initiative aimed at enhancing protocol security through improved auditing practices and formal verification tools.<\/p>\n<p>Moreover, the network is expanding its bug bounty program to include major protocols with high total value locked, reinforcing its long-term commitment to ecosystem security.<\/p>\n<p>Cetus has also issued a detailed roadmap outlining its recovery and restart plans, which are expected to unfold over the course of the coming week.<\/p>\n<p>The protocol confirmed that the first step involves the implementation of an upgrade by validators to move the funds into the multisig wallet.<\/p>\n<p>Subsequently, Cetus will activate its emergency recovery pool and complete a full restoration of its data infrastructure.<\/p>\n<p>In a post shared on May 29, Cetus stated that a dedicated compensation contract is in development and will undergo auditor review before being deployed.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Within just 48 hours, the Sui community united to pass a critical on-chain vote \u2014 marking a pivotal moment for the entire ecosystem. Cetus extends our deepest gratitude to the &gt;90% of validators and stakers who voted in favor. Regardless of your stance, your participation\u2026 <a href=\"https:\/\/t.co\/UN2DrlDRTw\">https:\/\/t.co\/UN2DrlDRTw<\/a><\/p>\n<p>\u2014 Cetus\ud83d\udc33 (@CetusProtocol) <a href=\"https:\/\/twitter.com\/CetusProtocol\/status\/1928184814118785511?ref_src=twsrc%5Etfw\">May 29, 2025<\/a><\/p>\n<\/blockquote>\n<p>Once the protocol resumes full operation, liquidity providers in the affected pools will regain access to their assets, while any residual losses will be addressed through the compensation contract.<\/p>\n<p>While the community\u2019s fast action has earned praise from many in the crypto industry, some decentralisation advocates have raised concerns over the ability of validators to freeze on-chain funds.<\/p>\n<p>Nevertheless, the decisive governance process and transparent communication have strengthened community confidence and underscored Sui\u2019s readiness to confront large-scale security challenges.<\/p>\n<p>Notably, as <a href=\"https:\/\/coinjournal.net\/news\/sui-hits-highest-ever-monthly-dex-volume-despite-price-dip-following-cetus-exploit\/\">earlier reported here<\/a>, Sui has hit the highest-ever monthly DEX volume despite a price dip following the Cetus exploit.<\/p>\n<p>With the vote finalised and recovery efforts already underway, both Cetus and the Sui ecosystem are poised for a resilient return.<\/p>\n<div class=\"ad-banner  container  pt-1\" data-partner=\"bitcoinpepe\">\n        <a href=\"https:\/\/bitcoinpepe.co\/en?utm_source=coinjournal&amp;utm_medium=banner&amp;utm_campaign=header\" target=\"_blank\" rel=\"nofollow sponsored noopener\"><br \/>\n            <img src=\"https:\/\/coinjournal.net\/wp-content\/themes\/c1-base\/dist\/img\/ad\/blockovate\/en.png\"\/><br \/>\n        <\/a>\n    <\/div>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/sui-passes-vote-to-repay-cetus-exploit-victims\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison ) The Sui community has approved returning $162M in frozen assets to Cetus victims. The funds will be held in a multisig wallet for user repayment. Sui also launched a $10M security push after the $223M exploit. In a significant move for [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":53389,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/53388"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=53388"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/53388\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/53389"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=53388"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=53388"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=53388"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}