

waterhope.sui
205 posts











Update – Validators representing 90.9% of stake have said “Yes” in the onchain community vote, and the vote has concluded early. With this result, the impacted funds will be moved to a multi-sig wallet and held in trust until they can be returned to users according to the plan led by Cetus. The Sui Foundation would like to thank the stakers and validators who participated by voting. Protocol governance is only possible through your active participation. Thank you for making your voice heard. See the results of the vote here: sui.scan.space/vote


Cetus has requested a community driven vote to recover the funds frozen following last week’s hack. In response, the Sui Foundation has released code for an onchain community vote. Sui validators can cast votes, and Sui holders can also vote directly through stake delegation. Sui Foundation stake will not be counted. If the community vote is approved, the funds will be recovered from the attacker and held in a multisig trust account until they can be returned to accounts who had positions in Cetus. The community vote is part of Cetus’s larger recovery plan to ensure all account holders are made whole, which includes use of Cetus’s treasury and obtaining a loan from Sui Foundation. While the validators cast votes, you, the Sui community, are represented by where your holdings are staked. You may change your stake delegation to a validator who voted in alignment with your preference. Validator votes will be displayed in public dashboards, which will be shared when the vote begins today at 1:00pm PT. See the blog post below for details, including code and participation information.

When my wallet gets hacked or I get liquidated, I hope @SuiNetwork bails me out like they do their buddies. This sets a terrible precedent. Shameful.





Cetus has requested a community driven vote to recover the funds frozen following last week’s hack. In response, the Sui Foundation has released code for an onchain community vote. Sui validators can cast votes, and Sui holders can also vote directly through stake delegation. Sui Foundation stake will not be counted. If the community vote is approved, the funds will be recovered from the attacker and held in a multisig trust account until they can be returned to accounts who had positions in Cetus. The community vote is part of Cetus’s larger recovery plan to ensure all account holders are made whole, which includes use of Cetus’s treasury and obtaining a loan from Sui Foundation. While the validators cast votes, you, the Sui community, are represented by where your holdings are staked. You may change your stake delegation to a validator who voted in alignment with your preference. Validator votes will be displayed in public dashboards, which will be shared when the vote begins today at 1:00pm PT. See the blog post below for details, including code and participation information.


📢 New Progress Update – A Path Forward Together! Since the incident, we have reflected deeply on the incident and its impact on our users, partners, and the broader ecosystem. We are deeply sorry and take this responsibility seriously. Today, we want to share a meaningful step forward, made possible by the collective effort of many. We have great news. Using our cash and token treasuries, we are now in a position to fully cover the stolen assets currently off-chain if the locked funds are recovered through the upcoming community vote. This includes a critical loan from the Sui Foundation, making a 100% recovery for all affected users possible. Because full recovery is dependent upon the results of the community vote, we humbly ask for the Sui community’s full support to recover the funds via the upcoming vote. We recognize that this is an extraordinary ask forced by our actions, however we think it is the right decision especially for those affected. Regardless of the outcome of the vote, recovery will begin immediately after. A detailed plan will follow. We deeply regret the impact caused by the recent incident and sincerely apologize to our users and the broader ecosystem for the exposure. Your trust is our top priority, and we are fully committed to making things right. We ask that everyone comes together to pass the vote, make everyone whole, and rebuild a stronger, more resilient Sui DeFi ecosystem. 🌊


🚨 Dear Sui community, We are working diligently together with Inca Digital, security and analytics providers, and law enforcement officials across the world to recover the $60M worth of stolen funds. In parallel, we are asking the Sui community to support a protocol upgrade to recover the $162M of frozen funds and return them to their rightful owners. No one can make this decision unilaterally. We propose an on-chain vote involving the network’s major participants, including validators and SUI stakers, to decide on whether this upgrade is in the best interest of the Sui community. We want to recover and return the stolen funds, but we will respect whatever the community decides. Thank you for your patience. We will work closely with Sui validators and the Sui Foundation on the details of implementing our proposed vote. 🌊

