{"id":69921,"date":"2025-05-28T19:00:35","date_gmt":"2025-05-28T19:00:35","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=69921"},"modified":"2025-05-28T19:00:35","modified_gmt":"2025-05-28T19:00:35","slug":"10-million-fix-sui-network-moves-fast-after-cetus-exploit-scare","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=69921","title":{"rendered":"$10 Million Fix? SUI Network Moves Fast After Cetus Exploit Scare"},"content":{"rendered":"

Sui<\/a> Network has rolled out a $10 million fund to boost security across its system. The move comes after the Cetus Protocol hack<\/a> that cost users $223 million.<\/p>\n

Based on reports, the money will go toward audits, bug bounties and new developer tools. It\u2019s a major shot across the bow at future attacks, but it raises questions about how those funds will be decided and spent.<\/p>\n\n

The Money And The Plan<\/strong><\/h2>\n

According to Sui\u2019s team, the $10 million security fund isn\u2019t just a pool of cash. It\u2019s a shared resource that developers and community members will help guide. Bug bounties will be offered to anyone who finds serious flaws.<\/p>\n

Doubling down on Sui security. A thread <\/p>\n

The root cause of the Cetus incident was a bug in a Cetus math library, not a vulnerability in Sui or Move. But the impact on users is the same. We need to take a holistic perspective and step up our game on supporting ecosystem\u2026<\/p>\n

\u2014 Sui (@SuiNetwork) May 26, 2025<\/a><\/p>\n

Audits will dig into both core code and popular dApps. And new tools aim to make it easier for builders to catch problems before they hit mainnet.<\/p>\n

Governance Tensions On Display<\/strong><\/h2>\n

According to reports, Sui is also asking token holders to vote<\/a> on whether to return some of the frozen assets to Cetus users. That plan has stoked debate.<\/p>\n

Critics say letting validators swing such decisions could put too much power in a small group. Sui\u2019s Foundation has promised to stay neutral, but opinions are split on what \u201cneutral\u201d really means.<\/p>\n

Incentives To Catch The Hacker<\/strong><\/p>\n

Cetus has put up a $6 million white\u2010hat bounty<\/a> to recover stolen funds. Sui has added another $5 million reward for any tip that leads to the hacker\u2019s capture.<\/p>\n

That\u2019s $11 million on the table for a single exploit. It sounds big. But some security experts wonder if the process will slow down or if critical details will get lost in legal wrangling.<\/p>\n

Price Rebound<\/strong><\/p>\n

Since the hack, SUI\u2019s price slid about 15%. It went from roughly $4.28 to a low near $3.50. At press time, it was on recovery mode, up 6% and trading at $3.72.<\/a><\/p>\n\n

What Comes Next For DeFi On Sui<\/strong><\/p>\n

Total value locked (TVL) has begun inching up again. Bridged TVL, which tracks assets coming in from other blockchains, has seen a noticeable bump. Yet DEX volume and app revenue haven\u2019t fully bounced back to pre\u2010hack figures.<\/p>\n

Featured image from Unsplash, chart from TradingView<\/em><\/p>","protected":false},"excerpt":{"rendered":"

Sui Network has rolled out a $10 million fund to boost security across its system. The move comes after the Cetus Protocol hack that cost users $223 million. Based on reports, the money will go toward audits, bug bounties and new developer tools. It\u2019s a major shot across the bow at future attacks, but it […]<\/p>\n","protected":false},"author":0,"featured_media":69922,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-69921","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/69921"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=69921"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/69921\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/69922"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=69921"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=69921"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=69921"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}