The SUI community has voted "Yes" to unlock the hacker's funds, worth over $160 million, to compensate traders and liquidity providers affected by the recent Cetus Protocol hack. The vote, which is currently over 54% in favor, aims to create a special transaction to move the funds from the hacker's addresses to a new multisig wallet controlled by Cetus Protocol, the SUI Foundation, and OtterSec.
*Key Details:*
- *Hack Details*: The Cetus Protocol hack occurred on May 22, resulting in losses of approximately $223 million, with $63 million bridged to the Ethereum network.
- *Fund Freeze*: Sui validators have frozen a majority of the stolen funds, worth around $162 million, and are working with the Cetus team to recover the remaining amount.
- *Compensation Plan*: The SUI Foundation and Cetus Protocol plan to compensate users who had funds bridged to Ethereum, with the SUI community voting on the proposal to unlock the frozen funds.
- *Voting Outcome*: The vote is expected to conclude soon, with the majority of validators voting in favor of the proposal. The SUI Foundation will abstain from voting due to its significant token holdings ¹ ².
*Next Steps:*
- *Protocol Upgrade*: If the vote passes, SUI will implement a protocol-level upgrade to enable a one-time authentication of two special transactions to move the funds from the hacker's wallets to the new multisig wallet.
- *Fund Recovery*: The Cetus team will work with Sui validators and other stakeholders to recover the stolen funds and return them to the community ².
