The decentralized CETUS exchange based on SUI may be one step closer to the recovery of lost funds in recent exploit, waiting for the result of voting in the field of social management, which was completed on June 3.
Cetus was used for over $ 220 million digital assets on May 22. Shortly after the incident, Cetus managed to freeze $ 162 million in funds.
On May 27 post At X Sui said Cutus asked for a community to vote to approve the recovery of frozen funds.
“If voting is approved, the funds will be recovered from the attacker and stored on the Multisig confidance account until they are returned to the bills that had positions in Cetus,” said the post.
Voting is part of a wider recovery plan, which includes the operate of the Treasury Cetus and securing an emergency loan from the Sui Foundation.
The ability of SUI validators to freeze the funds caused a debate in the community, and some users criticized the risk of centralization, while others praise the quick response as a positive step for security.
Related: Hoskinson promises an audit, he is “deeply wounded” by USD 600 million claims regarding the treasury of Cardano
Sui (sui) tokens can give their tokens to the Walidator, who votes according to their preference.
At the time of writing, 52.9% of the validators voted in favor, and 46.7% have not yet cast their votes, Sui Blockchain Explorer Data shown.
Related: Bitcoin “Premium” Metaplanet is approaching 600 thousand. USD for BTC
Cetus asks for an emergency loan of the Sui Foundation
Cetus also asked for an emergency loan from Sui, along with the support of the Walidator and the community for the return of stolen funds.
Cetus is now able to “fully cover the stolen resources” if the closed funds are recovered through the ongoing voting of the community.
“This includes a critical loan from the Sui Foundation, which is 100% recovery for all affected users,” said Cetus in May 27 x post.
Regardless of the result of the vote, Cutus said that the recovery process would start immediately. The protocol plans to publish a detailed plan describing the next steps for affected users.
https://www.youtube.com/watch?v=hvoqj4xS88s
Warehouse: AI flies blindness, “good” propaganda boots, Bunker Openai Doomsday: Ai eye
