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Proposal for Community Vote on the Return of Stolen Funds Worth 23 Billion Yen on Sui-based DEX 'Cetus'

2025/05/26 08:44 (Updated 2025/05/26 15:01)
CoinPost
Written by L.Kikutani
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Proposal for Community Vote on the Return of Stolen Funds Worth 23 Billion Yen on Sui-based DEX 'Cetus'

Collaboration with International Law Enforcement

On May 23, Cetus, a decentralized exchange (DEX) on the Sui blockchain, announced its collaboration with Inca Digital and various international law enforcement agencies aimed at recovering $60 million worth of stolen funds. Concurrently, Cetus is seeking feedback from the Sui community regarding the return of an additional $162 million currently frozen. Cetus has proposed an on-chain voting process involving validators and SUI stakers, among other key network participants, for a protocol upgrade to facilitate the recovery of these frozen funds. The decision will not be unilateral but will be left to determine whether it serves the best interest of the community.

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Iolite Vol.14

Iolite Vol.14

July 2025 issueReleased on 2025/05/30

Interview Iolite FACE vol.14 Charles Hoskinson, founder and CEO of Cardano/Input Output Global PHOTO & INTERVIEW Mariko Mabuchi Special feature: "Considerations on cryptocurrency-related policies in Japan and the US", "Blockchain guide from Japan", "Huge position liquidation occurs at Hyperliquid! A new, unanticipated crisis in decentralized finance", "Sakana AI, a generative AI startup from Japan that is attracting a lot of attention", "Prepare for a recession: correlation between finance and anomalies" Crypto Journey: "Web 3.0 from the perspective of the 'King of Debate'" Interview with Hiroyuki Special series: Virtual Nishi: "Cryptocurrency market trends and key points for interpreting them" Series: Tech and Future Toshinao Sasaki, etc.

MAGAZINE

Iolite Vol.14

July 2025 issueReleased on 2025/05/30
Interview Iolite FACE vol.14 Charles Hoskinson, founder and CEO of Cardano/Input Output Global PHOTO & INTERVIEW Mariko Mabuchi Special feature: "Considerations on cryptocurrency-related policies in Japan and the US", "Blockchain guide from Japan", "Huge position liquidation occurs at Hyperliquid! A new, unanticipated crisis in decentralized finance", "Sakana AI, a generative AI startup from Japan that is attracting a lot of attention", "Prepare for a recession: correlation between finance and anomalies" Crypto Journey: "Web 3.0 from the perspective of the 'King of Debate'" Interview with Hiroyuki Special series: Virtual Nishi: "Cryptocurrency market trends and key points for interpreting them" Series: Tech and Future Toshinao Sasaki, etc.