Cetus initiates community vote to decide whether to fully compensate for the 223 million stolen assets

PANews reported on May 28 that according to The Block, the Sui Ecosystem Decentralized Exchange Cetus announced that it would initiate a community vote to decide whether to use the protocol funds and the Sui Foundation loan to fully compensate the victims of the $223 million theft. The vulnerability originated from the open source code defects of its centralized liquidity market maker (CLMM) smart contract, which caused some Sui Ecosystem tokens to plummet by 90% in the attack on May 22, and the CETUS token fell by 50% on the same day. Cetus said it had fixed the vulnerability and promised to immediately start the compensation procedure regardless of the voting results. If the plan is passed, the protocol cash reserves, token library and Sui Foundation key loans will be used to achieve 100% fund recovery.

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Author: PA一线

This content is for informational purposes only and does not constitute investment advice.

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