Sui Foundation collaborates to freeze hacker funds! 162 million in encryption assets urgently stem the bleeding, Cetus proposes no rollback.

The Sui validators community quickly took action, successfully freezing approximately $162 million of stolen funds, but it also sparked a new round of discussions on "on-chain governance" and "fund recovery" mechanisms.

Sui validators exercise autonomy to quickly lock down attack addresses.

The Sui Foundation stated that the validators of the Sui blockchain each have an important configuration authority: they can specify in their profiles to ignore transactions from specific addresses. This feature was originally designed to allow nodes to autonomously choose whether to handle transactions from certain addresses based on their risk tolerance or legal compliance requirements.

In this incident, more than one-third of the Sui validators (calculated by staking ratio) collectively decided to ignore two addresses suspected to be related to the attack, successfully "freezing" the crypto assets that the attacker had not yet transferred.

Non-exceptional features, Sui Foundation: Responding the fastest

In fact, the "option to ignore specific address transactions" feature is not unique to Sui; theoretically, any blockchain network's validators have similar capabilities. However, in this attack incident, the Sui Foundation stated that the Sui validator community responded extremely quickly, successfully freezing approximately $162 million in funds before the hacker could transfer the funds across chains.

Although this emergency measure cannot recover all funds, it has created negotiation space for the victims. Unfortunately, as of now, the attackers have not responded to the Cetus team's outreach.

Freezing is not the ultimate solution, Cetus proposes to initiate a community vote.

The Cetus team has called on the community to vote on a special proposal after the freezing action: to return the frozen funds to users through a protocol upgrade, without rewriting on-chain history or rolling back transactions.

This proposal has received initial support from the Sui Foundation, but it also sets two key conditions:

Maintain neutrality and transparency: Sui officials will not participate in the voting itself, but will focus on designing and implementing a governance process that reflects the community's will, and commit to publicly sharing the relevant designs and code.

Cetus promises full compensation: Cetus must publicly commit to utilizing all its financial resources to ensure that every affected user can ultimately retrieve their funds.

This article reports that the Sui Foundation has teamed up to freeze hacker funds! $162 million in crypto assets urgently halted, Cetus proposed not to roll back. First appeared on on-chain news ABMedia.