In a major development around CETUS hack, 54% of the community have voted yes for the recovery plan of frozen assets and a combination of SUI loan of $ 60 million. There is still 1 day left for final confirmation, but the current votes are sufficient to pass the initial stage according to experts. The CETUS price has increased by 30% today and is trading at $ 0.17 at the time of reporting.
Community vote for needle loan proposal yes
As mentioned by Cooingup, on 23 May 2025, seat -protocol, largest SUI liquidation provider A large scale faced $ 260 million hackThe community came in support with the CEO CZ of former Binance in an incident, causing significant damage to users.
Tomorrow, sUI Foundation announced a safe loan to bridge $ 60m It is necessary to reimburse the money lost by users in hack. This recovery plan is to help users who have lost money in the attack. The final approval according to an official post by CETUS depends on the recovery proposal and the community vote to implement the SUI loan. According to a tweet by coinbureau, 54% of the community have voted yes to the proposal so far, thus paving forward for the user fund recovery.
As a result of this update, the price of Cetus has increased by more than 30% today. The trading volume is also 200% in the last 24 hours. It is worth noting that the price fell more than 100% on the day of hack.
Sunil Sharma
Sunil is a serial entrepreneur and has now been working in blockchain and cryptocurrency space for 2 years. First he co-established the government. India supported the Startup Inthink and currently the Chief Editor in Coingpe and CEO in Squadx, a Fintech Startup. He has published more than 100 articles on cryptocurrency and blockchain and has assisted several ICOs in his success. He has co-designed blockchain development industrial training and has hosted several interviews in the past. Follow it on x @sharmasunil8114 And Sunil (AT) arrive at her at coingpe.com
Disclaimer: The material presented may include the author’s personal opinion and is subject to the market status. Do your market research before investing in cryptocurrency. The author or publication does not have any responsibility for your personal financial loss.
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