Altcoin SuiThe decentralized stock market Cetus, which operates on the blockchain network, received an overwhelming majority of the community vote for the return of the $ 223 million hacking attack on 22 May and frozen by validators. 90 percent of the participants in the vote, which ended on May 29, supported the transportation of approximately 162 million dollars of crypto currency from two hackers to a multi -signed relics wallet. Funds, Cetus Team, Blockchain Security Company Ottersec And SUİ Foundationwill be transferred to this wallet under joint control. Cetus aims to reopen all product functions within a week and to maintain liquidity providers’ normal functioning.
Details of the Validators -based rescue plan
Validators will carry the coins frozen with the network update to a “Multisig” wallet. Thus, transparent surveillance will be provided while permanently prevented from access to wallets of the hackers. Cetus will prepare a special compensation agreement to manage the distribution of the surrounding wallet and will be repaired to the beneficiaries by pairing which user is experiencing how much loss with the chain data.
The team is also at the same time Concentrated Liquidity Market Power (CLMM) will update the infrastructure and include the “Emergency Pool Recovery” feature in the system. In this way, the automatic protection layer will be created against future security deficits.
When the decentralized stock market recovery operation is completed, it will restore the database, commission the updated ClMM contract and restart all stopped modules, including liquidity (LP). The ecosystem participants think that the recycling of locked assets to their pools will recover with the planned re -opening. Especially in the first weeks, the project, which prepared incentive campaigns in order to compensate for volume fluctuations, promised users to provide users with the experience of “closest to the prior to the attack”.
Increasing hack attacks at the defi ecosystem are concerned
The hack attack targeted a mistake in Cetus’s open -source Clmm library and caused hundreds of millions of dollars to evacuate in a few minutes. The team immediately patched the code and to Hacker Ethereum 
$2,624.88Bridged to 20 thousand 920 Weth (about $ 56.3 million) for a 6 million dollar white hat for a prize in exchange for award. Although the proposal remains unanswered for the time being, the community describes the rapid freezing of most of the Hacker’s assets by Validators as a rare reflex in the crypto currency world.
Cetus incidentless finance is briefly Defi It carried the losses over 5.3 billion dollars in the protocols. Ronin’s hacking cases of $ 600 million and Wormhole’s $ 323 million are still at the top of the list. Security analysts say that intense liquidity attracts attackers as well as increasing code complexity. According to the project teams, visibility brings advantage in open source, while simultaneously a guide for malicious actors. This table directs sector players to deepen the audit processes and to accelerate the rescue mechanisms after the attack.
The success of the community vote, the movement of frozen funds to the safe trust wallet and the clarification of the compensation calendar accelerates the process of re -standing Cetus.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
