$10 Million Fix? SUI Network Moves Fast After Cetus Exploit Scare
Sui Network has rolled out a $10 million fund to boost security across its system. The move comes after the Cetus Protocol hack that cost users $223 million.Based on reports, the money will go toward audits, bug bounties and new developer tools. Itās a major shot across the bow at future attacks, but it raises questions about how those funds will be decided and spent.The Money And The PlanAccording to Suiās team, the $10 million security fund isnāt just a pool of cash. Itās a shared resource that developers and community members will help guide. Bug bounties will be offered to anyone who finds serious flaws.Doubling down on Sui security. A thread The root cause of the Cetus incident was a bug in a Cetus math library, not a vulnerability in Sui or Move. But the impact on users is the same. We need to take a holistic perspective and step up our game on supporting ecosystemā¦Audits will dig into both core code and popular dApps. And new tools aim to make it easier for builders to catch problems before they hit mainnet.Governance Tensions On DisplayAccording to reports, Sui is also asking token holders to vote on whether to return some of the frozen assets to Cetus users. That plan has stoked debate.Critics say letting validators swing such decisions could put too much power in a small group. Suiās Foundation has promised to stay neutral, but opinions are split on what āneutralā really means.Incentives To Catch The HackerCetus has put up a $6 million whiteāhat bounty to recover stolen funds. Sui has added another $5 million reward for any tip that leads to the hackerās capture.Thatās $11 million on the table for a single exploit. It sounds big. But some security experts wonder if the process will slow down or if critical details will get lost in legal wrangling.Price ReboundSince the hack, SUIās price slid about 15%. It went from roughly $4.28 to a low near $3.50. At press time, it was on recovery mode, up 6% and trading at $3.72.What Comes Next For DeFi On SuiTotal value locked (TVL) has begun inching up again. Bridged TVL, which tracks assets coming in from other blockchains, has seen a noticeable bump. Yet DEX volume and app revenue havenāt fully bounced back to preāhack figures. Featured image from Unsplash, chart from TradingView