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SUI Network Adds Whitelist and Restore Privileges—Is a Hacker Fund Return Incoming?

  • Sui Network has added a whitelist function to prepare to return stolen funds to Liquidity Providers, with $63 million of the stolen $220 million reportedly bridged to the Ethereum network.
  • A decentralized exchange on the Sui blockchain network, Cetus, was hacked, resulting in a loss of $223 million, and efforts are being made to recover the frozen stolen money.
  • Hacker exploited smart contract code to drain funds, leading to the pause of the smart contract to prevent further losses; concerns raised by SUI community members regarding network's decentralization.
  • Occurrences of hacking have impacted SUI price, which declined to $3.6 but later rose to $3.8; interest from traders increased as daily trading volume surged by 66% following the incident.

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