Bridge Loan Boosts Cetus Recovery Plan

Cetus Initiates Community Vote for $162 Million Recovery

• Six days after a $223 million exploit in the Sui ecosystem, Cetus proposes a recovery plan.
• A community vote will decide if $162 million in frozen funds can be reclaimed via protocol upgrade.
• The Sui Foundation has released code for an onchain vote, allowing SUI holders to participate.
• If approved, funds will move to a multisig wallet controlled by Cetus, OtterSec, and the Sui Foundation.
• As of early Wednesday, 37.3% voted “yes,” with zero “no” votes recorded.

The community vote aims to authorize a protocol upgrade that reclaims $162 million in frozen funds without the hacker’s signature. The decision hinges on over 50% participation and majority approval from stakeholders.