NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Zcash Foundation Investigation Closed: SEC Decision Sparks 12% Jump In ZEC Price
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Zcash Foundation Investigation Closed: SEC Decision Sparks 12% Jump In ZEC Price

$10 Million Fix? SUI Network Moves Fast After Cetus Exploit Scare

Christian Encila
Christian Encila
Last Updated: May 28, 2025 7:00 pm
3 mins read
SUI

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Sui Network has rolled out a $10 million fund to boost security across its system. The move comes after the Cetus Protocol hack that cost users $223 million.

Related Reading

XRP

XRP ETF At 83% Approval Odds—Is The SEC Losing Grip?

7 months ago

Based on reports, the money will go toward audits, bug bounties and new developer tools. It’s a major shot across the bow at future attacks, but it raises questions about how those funds will be decided and spent.

Source: X

The Money And The Plan

According to Sui’s team, the $10 million security fund isn’t just a pool of cash. It’s a shared resource that developers and community members will help guide. Bug bounties will be offered to anyone who finds serious flaws.

Doubling down on Sui security. A thread 🧵

The root cause of the Cetus incident was a bug in a Cetus math library, not a vulnerability in Sui or Move. But the impact on users is the same. We need to take a holistic perspective and step up our game on supporting ecosystem…

— Sui (@SuiNetwork) May 26, 2025

Audits will dig into both core code and popular dApps. And new tools aim to make it easier for builders to catch problems before they hit mainnet.

Governance Tensions On Display

According to reports, Sui is also asking token holders to vote on whether to return some of the frozen assets to Cetus users. That plan has stoked debate.

Critics say letting validators swing such decisions could put too much power in a small group. Sui’s Foundation has promised to stay neutral, but opinions are split on what “neutral” really means.

SUI market cap currently at $12.3 billion. Chart: TradingView

Incentives To Catch The Hacker

Cetus has put up a $6 million white‐hat bounty to recover stolen funds. Sui has added another $5 million reward for any tip that leads to the hacker’s capture.

That’s $11 million on the table for a single exploit. It sounds big. But some security experts wonder if the process will slow down or if critical details will get lost in legal wrangling.

Price Rebound

Since the hack, SUI’s price slid about 15%. It went from roughly $4.28 to a low near $3.50. At press time, it was on recovery mode, up 6% and trading at $3.72.

SUI price up in the last 24 hours. Source: Coingecko

Related Reading

Tether

Tether’s 2-Year, $5 Billion Investment Blitz Fuels US Companies: CEO

7 months ago

What Comes Next For DeFi On Sui

Total value locked (TVL) has begun inching up again. Bridged TVL, which tracks assets coming in from other blockchains, has seen a noticeable bump. Yet DEX volume and app revenue haven’t fully bounced back to pre‐hack figures.

Featured image from Unsplash, chart from TradingView

Tweet123Share196ShareSend
Christian Encila
Christian Encila

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Read more

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

Close

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

「超級週期」來了!Tom Lee 豪砸 8,800 萬美元加碼以太坊

以太坊在 2026 年一開年就被機構資金「盯上」。Fundstrat 共同創辦人 Tom Lee 近期再度拋出以太坊「超級週期(supercycle)」論述,並透過他擔任董事長的 Bitmine,以約...

newsbtc 1 day ago
NYC Token

The NYC Token Crash: Allegations Of Rug Pull After $2.5 Million Liquidity Withdrawal

Former New York City Mayor Eric Adams is facing significant backlash after the crash of his newly launched cryptocurrency, the...

Ronaldo Marquez 1 day ago
crypto

Futures Frenzy Pushed Crypto Exchange Volume To Nearly $80 Trillion In 2025

According to reports, global crypto exchange trading volume jumped to over $79 trillion in 2025, driven largely by futures and...

Christian Encila 1 day ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Russia

Russia Drafts Bill That Could Change Who Can Buy Crypto

Christian Encila 1 hour ago
Crypto

Crypto Market Bill Draft Criticized For Allowing Continued Developer Prosecution

Ronaldo Marquez 6 hours ago
Ethereum

Ethereum Could Surge To $7,500 And Leave Bitcoin Behind, Banking Giant Says

Christian Encila 7 hours ago

Premium Sponsors

Press Releases

  • モネロが686ドルで史上最高値を更新、時価総額トップ11入り──1月に注目のアルトコインは?

    ...

    23 hours ago
  • ChatGPTが分析:2026年の仮想通貨 1000倍候補はどれか

    ChatGPTが分析:2026年の仮想通貨...

    23 hours ago
  • 新しい仮想通貨:2026年に注目すべき3銘柄、次に急騰するコインはどれか

    ...

    24 hours ago
  • ドージコイン 今後:ミームコイン市場に投機売買が再び戻る

    ドージコイン...

    24 hours ago
  • XRP価格予測:SECの暗号資産ルールに反発するリップル 今後、法的枠組みを突破できるか

    ...

    1 day ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.