{"id":130152,"date":"2025-05-28T09:15:51","date_gmt":"2025-05-28T09:15:51","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=130152"},"modified":"2025-05-28T09:15:51","modified_gmt":"2025-05-28T09:15:51","slug":"sui-validators-vote-on-162m-cetus-recovery-plan-to-restore-user-funds","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=130152","title":{"rendered":"Sui validators vote on $162M Cetus recovery plan to restore user funds"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsSui-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.<br \/>\nCetus was exploited for over $220 million worth of digital assets on May 22. Shortly after the incident, Cetus managed to freeze $162 million of the funds.<br \/>\nIn a May 27 post on X, Sui said Cetus had requested a community vote to approve the recovery of the frozen funds.<br \/>\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.<br \/>\nThe vote is part of a broader recovery plan that includes using Cetus\u2019s treasury and securing an emergency loan from the Sui Foundation.<br \/>\nSource: SuiThe 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.<br \/>\nRelated: Hoskinson promises audit, is \u2018deeply hurt\u2019 by $600M Cardano treasury claims<br \/>\nSui (SUI) tokenholders can stake their delegated tokens to a validator that votes in line with their preference.<br \/>\nSui community votes for frozen Cetus funds. Source: SuiAt 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.\u00a0<br \/>\nRelated: Metaplanet\u2019s Bitcoin \u2018premium\u2019 nears $600K per BTC<br \/>\nCetus asks for Sui Foundation emergency loan<br \/>\nCetus has also requested an emergency loan from Sui, along with validator and community support for the return of the stolen funds.<br \/>\nCetus is now in a position to \u201cfully cover the stolen assets\u201d if the locked funds are recovered through the ongoing community vote.<br \/>\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.<br \/>\nSource: CetusRegardless 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.<br \/>\nMagazine: AI cures blindness, \u2018good\u2019 propaganda bots, OpenAI doomsday bunker: AI Eye<a href=\"https:\/\/cointelegraph.com\/news\/cetus-protocol-vote-recover-frozen-funds?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 NewsSui-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&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\/130152"}],"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=130152"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/130152\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=130152"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=130152"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=130152"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}