Cetus Hack Aftermath: Sui Community Debates Frozen Funds Return, Weighs User Protection
- Sui validators froze funds after the Cetus hack sparked decentralization concerns
- The community will vote on whether to upgrade the protocol to return user assets
- Decision could shape the future of governance and trust on the Sui Network
The Sui Network community is considering voting on whether to return funds frozen after the recent Cetus Protocol hack. The decision could significantly influence the platform’s user safety and decentralization approach.
For context, the Cetus Protocol, a decentralized exchange built on the Sui Network, suffered a security breach nearly a week ago. Following the incident, validators on the Sui blockchain froze compromised funds. While this action did shield some assets from further damage, it also raised concerns about centralization and the role of network validators.
Related: Cetus Blockchain Proposes On-Chain Vote and $5M Bounty After $223M Cetus DeFi Hack
Now, the community must vote on whether to proceed with a protocol upgrade to enable the return of those frozen funds. The proposal has sparked intense debate among Sui users, developers, and validators.
Decentralization Ethos vs. User Protection: Sui Communit…
The post Cetus Hack Aftermath: Sui Community Debates Frozen Funds Return, Weighs User Protection appeared first on Coin Edition.
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Cetus Hack Aftermath: Sui Community Debates Frozen Funds Return, Weighs User Protection
- Sui validators froze funds after the Cetus hack sparked decentralization concerns
- The community will vote on whether to upgrade the protocol to return user assets
- Decision could shape the future of governance and trust on the Sui Network
The Sui Network community is considering voting on whether to return funds frozen after the recent Cetus Protocol hack. The decision could significantly influence the platform’s user safety and decentralization approach.
For context, the Cetus Protocol, a decentralized exchange built on the Sui Network, suffered a security breach nearly a week ago. Following the incident, validators on the Sui blockchain froze compromised funds. While this action did shield some assets from further damage, it also raised concerns about centralization and the role of network validators.
Related: Cetus Blockchain Proposes On-Chain Vote and $5M Bounty After $223M Cetus DeFi Hack
Now, the community must vote on whether to proceed with a protocol upgrade to enable the return of those frozen funds. The proposal has sparked intense debate among Sui users, developers, and validators.
Decentralization Ethos vs. User Protection: Sui Communit…
The post Cetus Hack Aftermath: Sui Community Debates Frozen Funds Return, Weighs User Protection appeared first on Coin Edition.
Read More
Bitcoin Quiet But These Altcoins Aren’t: CETUS, INJ, ENS, VIRTUAL, SPX Prices Spike