Sui Community Approves $162M Recovery Plan for Cetus Hack Victims

In a major development regarding the Cetus hack on the Sui blockchain, the community has approved a recovery plan to return approximately $162 million of stolen funds. This attack involved fake tokens that manipulated Cetus’s price system and led to a loss of over $223 million. While $60 million was moved to Ethereum within hours, Sui validators acted swiftly by freezing the remaining funds. The Cetus project and the Sui Foundation collaborated on this recovery plan. 🤔 A community vote overwhelmingly supported the proposal for returning stolen assets through a special transaction (over 52% of the stake). This is being overseen by a multisig wallet, managed by the Sui Foundation and OtterSec, to ensure safe return to Cetus.