Sui (SUI) Community Approves Cetus Hacked Frozen Asset Return Proposal

JH Kim

Summary

The Sui (SUI) community announced it has approved the Cetus Hacked Frozen Asset Return Governance Proposal.
The proposal involves transferring $260 million worth of frozen assets to a multisig wallet before returning them to users.
With this approval, user compensation and system recovery efforts are expected to accelerate.

On the 29th (local time), the Sui (SUI)-based decentralized exchange (DEX) Cetus announced on its official X (formerly Twitter) that the governance proposal to return assets frozen due to hacking had been approved by the Sui community.

This proposal involves transferring the frozen funds related to the recent hacking incident amounting to $260 million to a multisig wallet directly managed by Cetus, so that the assets can be returned to users. Cetus stated that the funds will be securely held in trust until they are returned.

Cetus has been recognized as a core DEX in the Sui ecosystem and recently suffered significant asset losses due to the large-scale hack. With the community's approval of this proposal, compensation to users and system recovery efforts are expected to proceed more rapidly.

SUI