• TEXT= DATE: 20.06.2025 TransferMole  |  IDO  | Blockchain Service
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  • bitcoinBitcoin (BTC) $ 42,977.00 0.18%
  • ethereumEthereum (ETH) $ 2,365.53 1.12%
  • tetherTether (USDT) $ 1.00 0.2%
  • bnbBNB (BNB) $ 302.66 0.19%
  • solanaSolana (SOL) $ 95.44 1.28%
  • xrpXRP (XRP) $ 0.501444 0.1%
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  • cardanoCardano (ADA) $ 0.481226 2.68%
  • avalanche-2Avalanche (AVAX) $ 34.37 1.19%
  • bitcoinBitcoin (BTC) $ 42,977.00 0.18%
    ethereumEthereum (ETH) $ 2,365.53 1.12%
    tetherTether (USDT) $ 1.00 0.2%
    bnbBNB (BNB) $ 302.66 0.19%
    solanaSolana (SOL) $ 95.44 1.28%
    xrpXRP (XRP) $ 0.501444 0.1%
    usd-coinUSDC (USDC) $ 0.996294 0.34%
    staked-etherLido Staked Ether (STETH) $ 2,367.26 1.4%
    cardanoCardano (ADA) $ 0.481226 2.68%
    avalanche-2Avalanche (AVAX) $ 34.37 1.19%
image-alt-1BTC Dominance: 58.93%
image-alt-2 ETH Dominance: 12.89%
image-alt-3 BTC/ETH Ratio: 26.62%
image-alt-4 Total Market Cap 24h: $2.51T
image-alt-5Volume 24h: $144.96B
image-alt-6 ETH Gas Price: 5.1 Gwei
 

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Sui blockchain security upgrade

Sui blockchain security upgrade after Cetus exploit sparks $10M initiative

https://icn.live/wp-content/uploads/2025/05/sui-upgrade.mp3
  • by ICN.live
Mariam Al-Yazidi

Sui blockchain security upgrade is now underway following a major exploit on the Cetus Protocol that shook investor trust.

Although the vulnerability was in a custom library used by Cetus and not the core Sui blockchain, the consequences were widespread. A total of $223 million was drained on May 22. Of that, Sui validators managed to freeze $162 million in assets. Around $60 million was unfortunately bridged to Ethereum before action could be taken.

Sui has responded by announcing a $10 million security initiative. The funds are aimed at improving decentralized application (dApp) safety through audits, bug bounties, formal verification tools, and deeper collaboration with developers. The platform’s new posture is about shared responsibility, not just protocol-level defense.

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$223M exploit leads to proactive platform-wide response

The exploit targeted an Automated Market Maker (AMM) function in Cetus Protocol. Attackers used an arithmetic overflow bug to manipulate liquidity pools. While the bug didn’t originate from the Sui blockchain itself, it created ripple effects. The platform’s total value locked (TVL) fell from $2.1 billion to $1.5 billion, and its native SUI token dropped by nearly 10%.

Sui recognizes that user trust is tied to the network’s entire ecosystem—not just its underlying code. That’s why the blockchain is investing heavily in third-party safety.

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Sui blockchain security upgrade to fund audits, tools, and education

This Sui blockchain security upgrade isn’t just a public relations move. It’s a multifaceted effort to support the ecosystem. Plans include funding verified open-source libraries, improving education around secure smart contract development, and creating formal bug bounty programs to catch vulnerabilities before attackers do.

The foundation is also working closely with the developer community to decide where and how the $10 million will be deployed. The goal is a more proactive and decentralized model of ecosystem security.

Governance issues emerge as on-chain vote sparks debate

In a controversial move, Sui proposed an on-chain vote to decide the fate of the frozen assets. While the foundation promised to remain neutral, critics argued that the vote highlighted governance flaws. Some compared it to Ethereum’s DAO reversal in 2016, reviving concerns about blockchain immutability and validator power.

Still, the decision to engage the community directly reflects Sui’s aim for transparency—even if it means navigating difficult debates.

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What caused the $223 million exploit on Cetus Protocol?

The exploit stemmed from a bug in Cetus Protocol’s custom math library, specifically an arithmetic overflow in an AMM function. This allowed attackers to manipulate liquidity positions and drain funds. Although not directly caused by the Sui blockchain or its Move language, the exploit affected user confidence across the ecosystem. As a result, the platform is reinforcing safety standards across all applications built on Sui.

Why is Sui investing $10 million in ecosystem security?

Sui launched a $10 million security initiative in response to the exploit to ensure that dApps built on its platform are secure. The funding will support audits, formal verification, bug bounties, and educational initiatives. This investment marks a strategic shift from protocol-only defense to ecosystem-wide accountability. It shows Sui’s commitment to shared responsibility and long-term trust.

What is the controversy around Sui’s on-chain vote?

After freezing $162 million of the stolen assets, Sui proposed an on-chain vote to decide whether to return the funds to Cetus. The foundation remained neutral, but the vote sparked community criticism. Many users expressed concerns about validator influence and potential centralization. Comparisons were drawn to Ethereum’s 2016 DAO fork, reigniting debates on blockchain governance and immutability.

How will the $10 million security fund be used?

The funds will be allocated through direct collaboration with developers and the community. Key focus areas include verifying and funding secure open-source libraries, setting up formal bug bounty programs, conducting third-party audits, and expanding security education. Sui aims to create a safer and more resilient ecosystem by promoting best practices and reducing dependency on centralized interventions.

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