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SUI Foundation Steps In with Secured Loan to Aid Cetus After $223M Hack
SUI Foundation Steps In with Secured Loan to Aid Cetus After $223M Hack
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SUI News -
The sui Foundation has provided a secured loan to decentralized exchange Cetus to ensure full reimbursement for users affected by a recent $223 million exploit. In a statement posted on X, the foundation confirmed the loan will cover funds the hacker transferred out of the SUI network before validators froze the attacker’s wallets.
Cetus plans to combine the loan with its treasury assets to compensate impacted users, pending community approval via an on-chain vote to release the frozen funds. The exchange has issued an apology for the incident and is calling on the SUI community to back the recovery proposal.
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