SUN Network announced an investment of $ 10 million in safety improvements to the ecosystem scale, following an exploit of $ 223 million targeting the Cetus protocol, a decentralized exchange built SU.
The initiative includes the financing of intelligent contract audits, bug bonus programs, formal verification tools and collaboration with developers to strengthen DAPP security.
Sui improves her blockchain safety
Although the feat was caused by a bug in the personalized mathematical library of Cetus – not a defect in the Blockchain language or the SUI – Sui language has recognized that the impact on users reflects on the wider network.
The new measures aim to move the approach of sui, from the responsibility of the platform to shared responsibility through the ecosystem. Blockchain wants to directly support manufacturers and reduce the probability of similar incidents.
In addition, SUD said that he is committed to working in close collaboration with his developer community to determine how and where the $ 10 million will be deployed.
This includes support for verified open source libraries and improving security education through its ecosystem.
The announcement follows a major feat of the Cetu protocol on May 22. The attackers drained $ 223 million by exploiting a vulnerability in an AMM function.
The bug made it possible to manipulate the liquidity positions by the arithmetic overflow.
In response, the Validators SU has frozen about $ 162 million in stolen assets. About 60 million dollars were filled in Ethereum before frost.
Meanwhile, the attack was not directly on the Suit network, but it had a negative impact on the feeling of the market. Sui has dropped almost 10% from the incident
More specifically, the network TVL increased from $ 2.1 billion on May 22 to 1.5 billion dollars after the attack.
The vote in the chain of sui arouses criticism
During the weekend, SUI was criticized for proposing a chain vote to return the frozen funds to Cetus. While the Foundation has promised neutrality, many members of the community have raised concerns concerning the power of the validator and potential centralization.
The vote made comparisons with the 2016 DAO incident of Ethereum. This sparked a new debate on the governance and immutability of blockchain networks.
Meanwhile, Cetus offered a bonus of $ 6 million, and the SUP Foundation displayed an additional 5 million dollars award for information leading to the identification of the attacker.
Overall, this incident has marked a central moment for the maturity of SUA as a layer of layer 1. The latest blockchain security initiative is laudable.
As Beincrypto previously reported it, most web security experts think that proactive measures are the only way to alleviate the major losses and exploits of this industry.
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