SUI validators approved a management proposal to return $ 162 million to frozen possessions linked to a recent exploitation of the decentralized exchange of exchange, marked a major step toward full user payment.
Cetus took advantage of more than $ 220 million The amount of digital assets on May 22, but the validators Managed to Flreeze $ 162 million of funds shortly after the incident.
In a management vote completed on May 29, the SUI Validator passed a recovery proposal with 90.9% voting in favor, 1.5% avoided and 7.2% non -participating, According to on the official network management page.
“In this result, the affected funds will move into a multisig wallet and will be held in trust until they are returned to users according to the plan led by Cetus,” Sui said in a May 29 x9 Post.
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The decision follows the debate within the crypto community about the role of validators in freezing onchain funds.
While some decentralization advocates criticized the ability of validators to freeze funds, other industry observers praised the rapid response as a step against the growth of exploits in the crypto industry.
The community vote is part of a broader recovery plan that includes the use of Cetus’s treasury and an emergency loan from the SUI Foundation.
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Cetus intends to restarts, full recovery for a week
Cetus expressed his gratitude for fast community support, sharing the roadmap of its recovery after the vote.
First, the Sui Validator will implement upgrading to move frozen funds to the Cetus Multisignature Wallet, so the cetus can start upgrading for the emergency recovery pool and full data restoration.
“Cetus aims to complete its entire recovery and i -RESTART for approximately one week,” Protocol wrote on a 29th X PostAdding:
“A dedicated payment contract is under the development and undergoing the auditor’s review before deployment.”
After the entire protocol restarting, all liquidity providers in the affected pools get accessible to their recovered liquidity, while the remaining losses will be “claimed by a compensation contract,” he added.
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