In a world where fortunes are made and lost in the blink of an eye, the Sui (SUI) community finds itself at a crossroads, ready to embark on a noble quest to reclaim a staggering $162 million in cryptocurrency, which, alas, has been spirited away by a nefarious hacker from the decentralized exchange known as Cetus Protocol. Ah, the irony of modernity!
Just last week, a cunning rogue unleashed a sophisticated smart contract exploit upon Cetus, targeting its concentrated liquidity market maker pools with the finesse of a cat burglar in the night. The result? A staggering theft of approximately $223 million worth of assets, leaving the community gasping in disbelief. Who knew that digital assets could vanish faster than a magician’s rabbit? 🎩✨
In a swift response, the DEX froze $162 million of the stolen assets, as if to say, “Not so fast, you crafty thief!” Now, the Sui community stands united, casting their votes on a proposal that would allow a special transaction to return these frozen assets from the clutches of two dastardly attacker addresses back to their rightful home at Cetus.
Should the vote pass, it would authorize a one-time authentication of two special transactions, meticulously hard-coded with the details of the attackers, the stolen assets, and their intended destination. A digital heist turned into a digital rescue mission—how poetic!
The voting process, much like a game of chess, is weighted by validator stake, with the Sui Foundation’s stake excluded to maintain a semblance of neutrality. The vote shall pass if more than 50% of the total stake participates, and the “yes” votes outnumber the “no” votes. Simple, right? Or is it just another day in the life of crypto drama?
As the clock ticks down to the end of the voting period next week, there is a glimmer of hope for an early resolution. If the remaining unvoted stake cannot sway the outcome, we might see a decision as soon as Thursday. At present, a whopping 71% of validators have already cast their votes in favor, while a mere 0.3% have dared to oppose, 1.5% have chosen to abstain, and 27.2% remain silent, perhaps pondering the meaning of life.
In a twist of fate, Cetus has also announced its readiness to cover the remaining losses through a combination of cash, token treasuries, and a loan from the Sui Foundation, all contingent upon the outcome of this pivotal vote. Talk about a financial safety net!
“Because full recovery is dependent upon the results of the community vote, we humbly ask for the Sui community’s full support to recover the funds via the upcoming vote. We recognize that this is an extraordinary ask forced by our actions, however we think it is the right decision especially for those affected.”
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2025-05-30 03:01