Cetus Seeks Community Vote to Recover $162 Million After Sui Hack

The post Cetus Seeks Community Vote to Recover $162 Million After Sui Hack appeared first on Coinpedia Fintech News

Following a $223 million hack that affected the Sui ecosystem, decentralized exchange Cetus has proposed a recovery plan to recover $162 million frozen in the hacker’s wallets. This plan depends on a community vote, needing over 50% participation and majority support to approve a protocol upgrade that would override the attacker’s control. If successful, the funds will be moved to a multisig wallet managed by Cetus, the auditing firm OtterSec, and the Sui Foundation. SUI holders can delegate their votes to validators to help decide the outcome.