Sui community approves release of $162M in tokens frozen during Cetus hack

The Sui community, with nearly 91% validator approval, passed a proposal to release $162 million in tokens frozen after a May 22 hack on the Cetus DEX, which lost $223 million in liquidity. The funds, held in a multi-signature wallet managed by Cetus, OtterSec, and the Sui Foundation, will be used to fully reimburse affected users. Cetus plans to execute an eight-step recovery process, including a protocol upgrade, emergency contract updates, and pool rebalancing, aiming to relaunch within a week. The $61 million bridged to Ethereum will be covered by Cetus’ reserves and a Sui Foundation loan. Show Less