The decentralized exchange cetus based in SUI could also be a step closer to the recovery of funds which have been lost in a recently carried out exploit until the results of a community governance vote is planned at the tip of June 3.
Cetus was exploited on May twenty second for digital assets price over 220 million US dollars. Shortly after the incident, Cetus managed to freeze 162 million US dollars of the funds.
In a contribution from May 27 on X, Sui said that Cetus asked a joint vote to approved the recovery of the frozen means.
“If the community vote is approved, the funds are reclaimed by the attacker and held on a multi -TRUST account until they will be returned to accounts that had positions in Cetus,” said the post office.
The vote is a component of a broader restoration plan that features using Cetus' Ministry of Finance and the securing of an emergency loan from the SUI Foundation.
Source: Sui
The ability of SUI validators to freeze the funds triggered debates throughout the community, with some users criticizing the centralization risk and praising others as a positive step for security.
SUI (SUI) token holder can transfer their delegated tokens to a validator that matches their preference.
At the time of writing, 52.9% of the validators voted, while 46.7% haven’t yet given up their votes, as Sui Blockchain Explorer data showed.
Cetus asks for emergency loans of the Sui Foundation
Cetus also requested an emergency loan from SUI in addition to the support of the validator and the community support for the return of the stolen means.
Cetus is now capable of “completely cover the stolen assets” if the closed funds are restored by the continuing community vote.
“This features a critical loan of the Sui Foundation that gives 100% recovery for all affected users,” said Cetus in a post on May 27.
Regardless of the results of the vote, Cetus said that a recovery process would begin immediately. The protocol plans to publish an in depth plan by which the following steps for affected users are described.
