SUI Network unveils $10M security plan after Cetus hack – Details
- Sui commits $10M to audits, bug bounties, and developer instruments after Cetus exploit
- Governance vote and worth drop spark decentralization debate, however restoration indicators emerge in TVL and metrics
In response to the current Cetus hack and mounting neighborhood backlash, Sui Community [SUI] has unveiled a $10 million safety initiative geared toward strengthening its ecosystem. The overhaul focuses on audits, bug bounties, and enhanced developer instruments – A decisive transfer in the direction of proactive safety and shared accountability.
SUI’s mammoth safety fund
Sui Community’s $10 million safety fund was announced, together with an official rationalization as to what really passed off.
Supply: X
The community has defined that the $223 million exploit of Cetus Protocol stemmed from a bug in Cetus’s customized math library – Not a flaw within the Sui blockchain or the Transfer programming language. The workforce additional acknowledged that the consumer influence displays on the broader community.
Importantly, they’ve reassured that the allocation of those funds might be formed collaboratively with the developer neighborhood – An effort in the direction of shared accountability and long-term resilience for dApp builders.
Governance below hearth
Supply: TradingView
Supply: DeFiLlama
