The post Cetus Seeks Community Vote to Recover $162 Million After Sui Hack appeared first on Coinpedia Fintech News

Following a $223 million hack that affected the Sui ecosystem, decentralized exchange Cetus has proposed a recovery plan to recover $162 million frozen in the hacker’s wallets. This plan depends on a community vote, needing over 50% participation and majority support to approve a protocol upgrade that would override the attacker’s control. If successful, the funds will be moved to a multisig wallet managed by Cetus, the auditing firm OtterSec, and the Sui Foundation. SUI holders can delegate their votes to validators to help decide the outcome.

The post Cetus Seeks Community Vote to Recover $162 Million After Sui Hack appeared first on Coinpedia.org.