Cetus Protocol has put out a call, the

$SUI community will decide.

On May 22, there was an attack on

#CETUS Protocol that resulted in the

seizure of approximately $223M in

funds...

Approximately $162M of these funds

were frozen by #suiNetwork

validators on individual initiative

before being transferred off-chain.

This was done through transaction

filtering, whereby the validators ignore

transactions from certain addresses

via their configuration files.

The Sui Network has stated that this

authorization is not unique to Sui, and

that validators on other networks may

similarly perform such filtering for

their own risk tolerance or regulatory

compliance reasons.

The freeze is not a permanent

solution, but is in place in

emergencies to slow down the attack

and provide a basis for negotiation.

In the aftermath of the attack, Cetus

issued a call for the community to

vote on an on-chain protocol update

to enable the return of frozen funds.

The vote is planned to be held by

validators and SUI staking community

members.

Sui announced that it supports this

voting process and will only facilitat

the process technically. However, he

reiterated that his support is subject

two conditions:

1- The vote willI be conducted

impartially and Sui will not vote.

2- Cetus will publicly commits to full

Compensate users using all its

financial resources.

This is an important example of how

on-chain goverrnance mechanisms

work in extraordinary situations and

how decentralized netWorks can

respond to crises.