Sui reveals the cause of CETUS Hack, he commits 10 million dollars to enhance the safety of the network
SUI reported a report after the death of the cause of Cotus Hack worth $ 260 million, which shook its ecosystem last week. As part of the report, the network has also announced plans to enhance security, a SUI price liquidation step.
Sui provides a report on CETUS penetration
in X postThe network revealed that the root cause of the CETUS accident was an error in mathematics in the protocol, instead of weak in SUI or the animated programming language, which the network adopts for smart contracts. Note only that the influence on users is the same and note the need to take a total perspective to support the safety of the ecological system.
As said Coingaa, the largest decentralization exchange in the network (DeX) and the liquidity provider, CETUS Protocol, suffered from a penetration of $ 223 million last week. The network managed to freeze $ 162 million, while CETUS has put a $ 6 million bonus to recover the remaining $ 60 million.
As part of the efforts to increase the security of the network, SUI adhered to spend an additional $ 10 million to security initiatives. The network plans to spend these funds on audit operations, Bug Bounty programs, and official verification. The team plans to cooperate with the developer community to end these security plans.
The report also indicated that the network was specially designed to enable the development of the safer smart contracts, making the first major accident of the DAPP A “very sad” for the team.
The team also noticed that this incident is part of the next moment, which “all the main Blockchain has witnessed unfortunately”, as no design or programming language can prevent humans from writing errors.
As such, the Sui team called on members of society to work together to learn from the accident, harden an important symbol on the network, and to help builders to take the necessary steps to appear stronger.
At the time of this report, the SUI price is traded by about $ 3.46, a decrease of about 2 % in the past 24 hours. The trading volume also decreased during this period, as 907.62 million dollars were traded.
Boluwatife Adeyemi
Boluwatife Adeyemi is a writer and editor of encryption news that covered topics that exceed many topics and ports. Boluwatife has a talent to simplify the most technical concepts and make it easy for the novice encoded. Away from writing, he is a fan of thirsty basketball, traveler and part -time.
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