$10 Million Fix? SUI Network Moves Fast After | Crypto News
Sui Network has rolled out a $10 million fund to increase security across its system. The transfer comes after the Cetus Protocol hack that value customers $223 million.
Based on reviews, the money will go toward audits, bug bounties and new developer instruments. It’s a main shot across the bow at future assaults, but it raises questions about how those funds might be determined and spent.
The Money And The Plan
According to Sui’s workforce, the $10 million security fund isn’t just a pool of money. It’s a shared useful resource that builders and neighborhood members will help information. Bug bounties might be supplied to anybody who finds critical flaws.
Doubling down on Sui security. A thread
The root trigger of the Cetus incident was a bug in a Cetus math library, not a vulnerability in Sui or Move. But the affect on customers is identical. We need to take a holistic perspective and step up our recreation on supporting ecosystem…
— Sui (@SuiNetwork) May 26, 2025
Audits will dig into both core code and well-liked dApps. And new instruments goal to make it simpler for builders to catch issues before they hit mainnet.
Governance Tensions On Display
According to reviews, Sui is also asking token holders to vote on whether or not to return some of the frozen belongings to Cetus customers. That plan has stoked debate.
Critics say letting validators swing such selections might put an excessive amount of energy in a small group. Sui’s Foundation has promised to keep impartial, but opinions are cut up on what “neutral” actually means.
Incentives To Catch The Hacker
Cetus has put up a $6 million white‐hat bounty to get well stolen funds. Sui has added one other $5 million reward for any tip that leads to the hacker’s seize.
That’s $11 million on the desk for a single exploit. It sounds huge. But some security specialists marvel if the method will gradual down or if important particulars will get misplaced in legal wrangling.
Price Rebound
Since the hack, SUI’s price slid about 15%. It went from roughly $4.28 to a low close to $3.50. At press time, it was on restoration mode, up 6% and trading at $3.72.
What Comes Next For DeFi On Sui
Total worth locked (TVL) has begun inching up again. Bridged TVL, which tracks belongings coming in from different blockchains, has seen a noticeable bump. Yet DEX quantity and app income haven’t absolutely bounced back to pre‐hack figures.
Featured image from Unsplash, chart from TradingView
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