{"id":129859,"date":"2025-05-23T10:15:59","date_gmt":"2025-05-23T10:15:59","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=129859"},"modified":"2025-05-23T10:15:59","modified_gmt":"2025-05-23T10:15:59","slug":"cetus-offers-6m-bounty-after-220m-hack-as-sui-faces-decentralization-debate","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=129859","title":{"rendered":"Cetus offers $6M bounty after $220M hack as Sui faces decentralization debate"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsCetus is offering a $6 million white hat bounty in an effort to recover $220 million in stolen digital assets, while emergency responses from the Sui Network have raised concerns about decentralization.<br \/>\nSui-native decentralized exchange (DEX) Cetus was exploited for over $220 million worth of cryptocurrency on May 22. However, Cetus managed to freeze $162 million of the stolen funds shortly after.<br \/>\nCetus has since offered a white hat bounty of up to $6 million for the exploiter for returning the stolen 20,920 Ether (ETH), worth over $55 million, along with the rest of the stolen funds currently frozen on the Sui blockchain.<br \/>\n\u201cIn exchange, you can keep 2,324 ETH ($6M) as a bounty, and we will consider the matter closed and will not pursue any further legal, intelligence, or public action,\u201d Cetus wrote in a message embedded in a blockchain transaction on May 22.<br \/>\nA bounty offer to the hacker. Source: SuivisionHowever, Cetus will \u201cescalate with full legal and intelligence resources\u201d if these assets are off-ramped or sent to cryptocurrency mixers and not returned promptly.<br \/>\nA white hat bounty is offered to ethical hackers who seek protocol vulnerabilities to prevent future exploits.<br \/>\nRelated: Exponential currency debasement: \u2018You don\u2019t own enough crypto, NFTs\u2019<br \/>\nCryptocurrency hacks soared to $90 million across 15 incidents in April, a 124% increase from March when hackers stole $41 million worth of digital assets.<br \/>\nCrypto stole in April 2025. Source: ImmunefiMeanwhile, the industry is still recovering from the largest crypto hack, which saw Bybit exchange lose over $1.4 billion on Feb. 21, 2025.<br \/>\nRelated: Bitcoin hits new all-time high of $109K as trade war tensions ease<br \/>\nSUI considers emergency white list function to override transactions<br \/>\nMeanwhile, GitHub activity shows the Sui team has considered implementing an emergency whitelist function that would allow certain transactions to bypass security checks, potentially to recover funds linked to the hack.<br \/>\nMysten, Sui, white list function. Source: GitHub\u201cIt appears that the Sui team asked every validator to deploy patched code so they could take away @CetusProtocol hacker\u2019s $160 million via an unsigned tx,\u201d said Chaofan Shou, a software engineer at Solayer Labs.<br \/>\nHowever, an unnamed Sui engineer told Shou that \u201cvalidators held off deploying this and currently they are only denying tx that involves hacker\u2019s objects,\u201d he said in a May 22 X post.<br \/>\nThe move has sparked criticism among decentralization advocates, who argue that the ability to override transactions contradicts the principles of a decentralized permissionless network.<br \/>\nDespite widespread criticism in the crypto community, some saw the rapid response as a sign of progress, not centralization.<br \/>\n\u201cThis is what real world decentralization looks like. Not just powerless, but responsive and aligned with the community,\u201d said pseudonymous crypto sleuth Matteo, adding that decentralization \u201cisn\u2019t about standing by while people get hurt, it\u2019s about the power to act together, without needing permission.\u201d<br \/>\nMagazine: Arthur Hayes $1M Bitcoin tip, altcoins \u2018powerful rally\u2019 looms: Hodler\u2019s Digest, May 11 \u2013 17<a href=\"https:\/\/cointelegraph.com\/news\/cetus-6m-white-hat-bounty-of-stolen-220m?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsCetus is offering a $6 million white hat bounty in an effort to recover $220 million in stolen digital assets, while emergency responses from the Sui Network have&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/129859"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=129859"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/129859\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=129859"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=129859"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=129859"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}