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SUI-Based DEX Cetus Proposes Governance Vote to Unlock $162M in Frozen Assets Post-Exploit
SUI-Based DEX Cetus Proposes Governance Vote to Unlock $162M in Frozen Assets Post-Exploit
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[TRADE_PLUGIN]SUIUSDT,SUIUSDT[/TRADE_PLUGIN]
SUI News -
Cetus, a decentralized exchange built on the Sui blockchain, has initiated an on-chain governance vote to release $162 million in frozen funds following a May 22 security breach. The protocol asserts that its existing reserves, supplemented by a loan from the SUI Foundation, are sufficient to cover the $61 million bridged to ethereum by the attacker.
The repayment process is contingent upon community approval through the governance vote. Cetus has committed to publishing a comprehensive reimbursement plan regardless of the voting outcome. Validators have already immobilized the remaining $162 million on the sui network, which will remain inaccessible pending the community’s decision.
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