Following a recent hack, the Cetus Protocol, a decentralized exchange built on the Sui blockchain, has successfully transferred its recovered funds to a secure multi-signature wallet. This move underscores the collaborative efforts of the protocol, the Sui Foundation, and OtterSec, with community involvement playing a key role in the recovery process. 🎉 Cetus is now able to fully cover the stolen assets through a combination of cash reserves, token reserves, and a loan from the Sui Foundation, all subject to a forthcoming governance vote for final approval. 💪 🇨🇳
This groundbreaking approach marks a new standard for decentralized finance in incident management. The hack, one of the largest in the Sui ecosystem, has also prompted the development of innovative strategies that aim to ensure future security. 💡