Sui Network Launches $10M Security Initiative
Key Takeaways
- Following a hack involving the Cetus Protocol, the Sui Network is launching a $10 million security initiative.
- The focus is on security audits, bug bounty programs, and improved developer tools.
- The community will be involved in fund allocation – a step toward shared responsibility.
- A governance proposal to return frozen funds has sparked debate about decentralization.
- The SUI price dropped after the incident but is showing early signs of recovery.
Background: What Happened?
On May 28, 2025, the Sui Network announced a $10 million security program. The initiative was prompted by a security breach in the Cetus Protocol, where approximately $223 million was lost due to a vulnerability in a custom math library. Importantly, the Sui blockchain itself and the Move programming language were not affected.
What the Security Program Includes
The allocated funds will be directed toward three main areas:
- Audits: External security reviews of protocols and smart contracts.
- Bug Bounties: Rewards for developers who report vulnerabilities.
- Developer Tools: Enhanced tools to support dApp development.
Fund distribution will take place in collaboration with the developer community. The goal is to strengthen trust in the ecosystem and ensure long-term security.
Governance Debate Ignited
A proposal to return frozen funds to Cetus through an on-chain vote has sparked controversy. Critics draw parallels to Ethereum’s DAO rollback in 2016 and fear it could undermine decentralization. The Sui Foundation remained neutral, but the discussion around governance models and blockchain immutability has been reignited.
Rewards for Information on the Attacker
Cetus is currently offering a $6 million white-hat reward for the return of the stolen funds. Additionally, the Sui Foundation has posted a $5 million bounty for information leading to the identification of the attacker.
Market Trends and Early Signs of Recovery
Following the incident, the price of SUI dropped by about 17.5% – from approximately $4.30 to $3.54. The price has since stabilized between $3.40 and $3.60.
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Technical indicators such as the Relative Strength Index (RSI) suggest declining selling pressure. The On-Balance Volume (OBV) indicator shows slight accumulation. Total Value Locked (TVL) – the capital locked in the DeFi ecosystem – is also starting to increase again. Notably, TVL values bridged from other chains are rising, indicating renewed confidence among cross-chain users.
Our Assessment
The Sui Network is responding quickly and systematically to the security breach. The introduction of a $10 million fund shows that security and developer support are now a top priority. Involving the community in fund distribution is a positive move towards greater transparency and accountability.
However, the governance debate highlights the ongoing complexities of decentralization in practice. While the market initially reacted negatively, technical data point to a potential stabilization. This is a critical moment for users and developers in the Sui ecosystem to rebuild trust and learn from the incident. Anyone interested in DeFi projects should closely monitor how this situation evolves.
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