{"id":28944,"date":"2025-05-28T08:46:48","date_gmt":"2025-05-28T08:46:48","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=28944"},"modified":"2025-05-28T08:46:48","modified_gmt":"2025-05-28T08:46:48","slug":"sui-validators-vote-on-162m-cetus-recovery-plan-to-restore-user-funds","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=28944","title":{"rendered":"Sui validators vote on $162M Cetus recovery plan to restore user funds"},"content":{"rendered":"
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\"Sui<\/p>\n

Sui-based decentralized exchange Cetus may be one step closer to recovering funds lost in a recent exploit, pending the outcome of a community governance vote scheduled to end June 3.<\/p>\n

Cetus was exploited for over $220 million<\/a> worth of digital assets on May 22. Shortly after the incident, Cetus managed to freeze $162 million<\/a> of the funds.<\/p>\n

In a May 27 post<\/a> on X, Sui said Cetus had requested a community vote to approve the recovery of the frozen funds. <\/p>\n

\u201cIf the community vote is approved, the funds will be recovered from the attacker and held in a multisig trust account until they can be returned to accounts that had positions in Cetus,\u201d the post said.<\/p>\n

The vote is part of a broader recovery plan that includes using Cetus\u2019s treasury and securing an emergency loan from the Sui Foundation. <\/p>\n

\"Sui
Source: <\/em>Sui<\/em><\/a>
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The ability of Sui validators to freeze the funds has sparked debate within the community, with some users criticizing the centralization risk and others praising the rapid response as a positive step for security.<\/p>\n

Related: <\/strong><\/em>Hoskinson promises audit, is \u2018deeply hurt\u2019 by $600M Cardano treasury claims<\/strong><\/em><\/a><\/p>\n

Sui (SUI<\/a>) tokenholders can stake their delegated tokens to a validator that votes in line with their preference.<\/p>\n

\"Sui
Sui community votes for frozen Cetus funds. Source: Sui<\/em><\/figcaption><\/figure>\n

At the time of writing, 52.9% of validators had voted in favor, while 46.7% have yet to cast their votes, Sui blockchain explorer data showed<\/a>.\u00a0<\/p>\n

Related: <\/strong><\/em>Metaplanet\u2019s Bitcoin \u2018premium\u2019 nears $600K per BTC<\/strong><\/em><\/a><\/p>\n

Cetus asks for Sui Foundation emergency loan<\/h2>\n

Cetus has also requested an emergency loan from Sui, along with validator and community support for the return of the stolen funds.<\/p>\n

Cetus is now in a position to \u201cfully cover the stolen assets\u201d if the locked funds are recovered through the ongoing community vote.<\/p>\n

\u201cThis includes a critical loan from the Sui Foundation, making a 100% recovery for all affected users possible,\u201d Cetus said in a May 27 X post<\/a>.<\/p>\n

\"Sui
Source: <\/em>Cetus<\/em><\/a><\/figcaption><\/figure>\n

Regardless of the vote\u2019s outcome, Cetus said a recovery process would begin immediately. The protocol plans to publish a detailed plan outlining next steps for affected users.<\/p>\n