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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. It’s a major shot across the bow at future attacks, but it raises questions about how those funds will be decided and spent.
Source: X
The Money And The Plan
According to Sui’s team, the $10 million security fund isn’t just a pool of cash. It’s 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 ecosystem…
— Sui (@SuiNetwork) May 26, 2025
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 Display
According 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. Sui’s Foundation has promised to stay neutral, but opinions are split on what “neutral” really means.
Incentives To Catch The Hacker
Cetus has put up a $6 million white‐hat bounty to recover stolen funds. Sui has added another $5 million reward for any tip that leads to the hacker’s capture.
That’s $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 Rebound
Since the hack, SUI’s 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.
SUI price up in the last 24 hours. Source: Coingecko
What Comes Next For DeFi On Sui
Total 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 haven’t fully bounced back to pre‐hack figures.
Featured image from Unsplash, chart from TradingView
They say journalists never truly clock out. But for Christian, that’s not just a metaphor, it’s a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.
Christian’s journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).
Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling – right up his alley!
So, he landed a killer gig at NewsBTC, where he’s one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).
Think Christian’s all work and no play? Not a chance! When he’s not at his computer, you’ll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.
Speaking of chill, Christian’s got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.
Here’s the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day – and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.
Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors – and bosses – he deeply respects.
So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.
Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.
