Cetus has shared a recovery plan aimed at returning $162 million worth of frozen assets that were taken in a May 22 security breach.
The decentralized exchange (DEX) wants to move these funds out of the attacker’s wallets by asking for community support to approve a protocol update.
According to the Sui Foundation’s post on X, the plan was put to a vote starting at 1 PM on May 27 and will stay open for up to seven days. Those who hold SUI tokens can delegate their votes to validators to choose “yes”, “no”, or “abstain”.
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The Sui
If approved, the update would allow two wallet addresses, linked to the attacker, to each carry out one transaction. These would move the frozen funds into a multisignature wallet managed by Cetus, the Sui Foundation, and blockchain security firm OtterSec. This setup adds oversight before the funds are returned to users.
As of May 28, 37.3% had voted in favor, with no votes against. The rest have yet to weigh in. The vote could end early if the outcome becomes certain after 48 hours.
On May 15, Coinbase faced a $20 million extortion attempt after attackers bribed overseas support staff. How did the exchange respond? Read the full story.
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