Cetus offers $6M bounty after $220M hack as Sui faces decentralization debate
Cetus is offering a $6 million white hat bounty to recover $220 million in stolen digital assets after a hack on May 22, which resulted in over $220 million in losses. The platform managed to freeze $162 million of the stolen funds. The bounty includes 20,920 Ether (ETH), valued at over $55 million, with the condition that no legal action will be pursued if the funds are returned. If the assets are moved or mixed, Cetus will escalate legal actions. Cryptocurrency hacks increased significantly in April, totaling $90 million across 15 incidents. The Sui Network is considering an emergency whitelist function to bypass security checks for recovering funds, which has raised concerns about decentralization. Critics argue this undermines the principles of a decentralized network, while some view the rapid response as a positive sign of community alignment and action.
