SUI Foundation Leads Community Vote to Recover Cetus Hack Funds

BTCC / BTCC Square / Global Cryptocurrency /

Author:

Release Time:

2025-05-29 03:52:13

[TRADE_PLUGIN]SUIUSDT,SUIUSDT[/TRADE_PLUGIN] SUI News -

The sui Foundation has launched a community vote to tackle the recent Cetus DeFi platform security breach. Starting May 27, 2025, the vote will decide on a protocol upgrade to reclaim frozen funds from hacker-controlled wallets.

Cetus proposed the vote as part of its recovery plan, which includes tapping its treasury and securing a SUI Foundation loan. Validators and stakers will participate in a transparent, stake-weighted process, excluding the Foundation’s influence.

This decision could establish a groundbreaking precedent for decentralized governance in post-hack fund recovery, highlighting blockchain communities’ growing role in crisis management.

By:

Log in to Reply

Tesla Investor Sentiment Sours Despite Musk’s Efforts as Valuation Concerns Mount

Articles on this site are sourced from public networks or curated by AI for informational purposes only and do not represent BTCC’s views. Original rights belong to the respective authors. For copyright concerns, please contact [email protected]. BTCC assumes no liability for the accuracy, timeliness, or completeness of this information, and disclaims all liability arising from reliance on such content. This content is for reference only and should not be taken as investment, legal, or commercial advice.