{"id":482886,"date":"2025-05-31T00:15:13","date_gmt":"2025-05-30T23:15:13","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=482886"},"modified":"2025-06-09T00:06:28","modified_gmt":"2025-06-08T23:06:28","slug":"sui-community-approves-release-of-162m-in-tokens-frozen-during-cetus-hack","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/sui-community-approves-release-of-162m-in-tokens-frozen-during-cetus-hack\/","title":{"rendered":"Sui community approves release of $162M in tokens frozen during Cetus hack"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Validators representing nearly 91% of <a href=\"https:\/\/cryptoslate.com\/coins\/sui\/\">Sui<\/a> stake approved an on-chain proposal to release about $162 million seized during last week\u2019s Cetus exploit, allowing the DEX to reimburse users and restore full operations.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Cetus said in a social media <a href=\"https:\/\/x.com\/CetusProtocol\/status\/1928184814118785511\">post<\/a> that the 48-hour referendum closed on May 29 when more than two-thirds of the network endorsed the measure.<\/span><\/p>\n<h2>Cetus hack victims to be reimbursed fully<\/h2>\n<p><span style=\"font-weight: 400;\"> The approved transaction instructs validators to transfer the frozen tokens to a multi-signature wallet controlled by Cetus, security auditor OtterSec, and the Sui Foundation.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The foundation<\/span> <strong><a href=\"https:\/\/x.com\/SuiNetwork\/status\/1928181165909008690\">confirmed the outcome<\/a><\/strong><span style=\"font-weight: 400;\"> and said the funds will remain in trust until Cetus executes its repayment plan. \u201cProtocol governance is only possible through your active participation,\u201d the foundation told stakers and node operators, crediting them for concluding the vote swiftly.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The decision resolves a key uncertainty that followed<\/span> <strong><a href=\"https:\/\/cryptoslate.com\/sui-based-cetus-protocol-suspends-operations-following-260-million-oracle-exploit\/\">the May 22 attack<\/a><\/strong><span style=\"font-weight: 400;\">, which drained an estimated $223 million in liquidity.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Attackers bridged roughly $61 million to <a href=\"https:\/\/cryptoslate.com\/coins\/ethereum\/\">Ethereum<\/a> before validators halted the address, leaving $162 million stranded on Sui.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Cetus told users on May 27 that it could<\/span> <strong><a href=\"https:\/\/cryptoslate.com\/cetus-seeks-sui-community-nod-to-unlock-162m-to-make-users-whole\/\">cover the bridged amount<\/a><\/strong><span style=\"font-weight: 400;\"> through its reserves and a short-term loan from the foundation, but it needed the community\u2019s consent to unlock the frozen balance.<\/span><\/p>\n<h2><strong>Roadmap for restitution and restart<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">Cetus outlined an eight-step recovery schedule, targeting a complete relaunch within one week. Validators will first execute the protocol upgrade, which transfers the locked assets into the tri-party wallet.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Engineers have already completed an emergency update to the concentrated-liquidity market-maker contract and sent it for audit.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The team will then restore pool data, calculate individual liquidity deficits, and convert the retrieved tokens back to their original composition.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Because attackers executed extensive swaps during the exploit, Cetus plans to use \u201cminimal-impact strategies\u201d to avoid further slippage while rebalancing pools.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Developers are creating a compensation contract that will distribute any unrecovered amounts once the auditors complete their review.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Cetus is committed to transparent progress reports during the recovery week and stated that staff are &#8220;fully mobilized\u201d to meet the timeline.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Funds will be transferred to the multi-sig wallet once the validators finalize the upgrade, clearing the way for Cetus to reimburse users and bring its exchange back online.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Validators representing nearly 91% of Sui stake approved an on-chain proposal to release about $162 million seized during last week\u2019s Cetus exploit, allowing the DEX to reimburse users and restore full operations. Cetus said in a social media post that the 48-hour referendum closed on May 29 when more than two-thirds of the network endorsed [&hellip;]<\/p>\n","protected":false},"author":1511,"featured_media":482273,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[80281,1,77968,79325,16041],"tags":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Sui community approves release of $162M in tokens frozen during Cetus hack<\/title>\n<meta name=\"description\" content=\"The amount was frozen by Sui validators following the May 22 hack, locking most of the tokens stolen in the attack.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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