May 31, 10:15 AM

Sui Community Approves $162 Million Token Release to Multisig Wallet Managed by Cetus, Sui Foundation, OtterSec

The Sui blockchain community has approved the release and transfer of approximately $162 million in tokens that were frozen following a hack involving the Cetus protocol. After an on-chain vote, these frozen funds, linked to a hacker attack, were moved to a multisignature trust wallet jointly managed by Cetus, the Sui Foundation, and cybersecurity firm OtterSec. The funds will remain secured in this wallet until they can be reimbursed to affected users. This action represents a substantial recovery effort, as Cetus and Sui have collectively frozen about $157 million of stolen assets, accounting for roughly 71% recovery from a total theft of $220 million reported in May 2025. The move comes amid a broader context of approximately 20 major crypto hacks in May 2025, which resulted in total losses of $244.1 million, marking a 39.29% decrease compared to April.

#Sui #Cetus #Sui Foundation #OtterSec

Written with ChatGPT (GPT-4).