New details have emerged from the developers of the altcoin affected by the hack of over 200 Million Dollars!

Sui has made new statements regarding the security vulnerability experienced at the decentralized exchange Cetus in recent days.

Sui developers stated that the incident was not caused by a security vulnerability in the Sui network or the Move programming language, but rather due to a bug in Cetus's own math library. However, the team, which noted that the losses experienced by users were significant, announced that they have taken new measures to enhance the security of the ecosystem.

The development team announced that they will share the details of the current security measures this week and allocate an additional $10 million in resources to further strengthen security. This budget will be used for security audits, bug bounty programs (bug bounty), official verification methods, and similar security initiatives. It was stated that the plans will be shaped in collaboration with the developer community.

The Sui team stated in their announcement, "We designed Sui to offer a more secure opportunity for smart contract development. The first major security incident experienced by a dApp is unfortunate for us. However, this is a maturation moment that every major blockchain encounters at some point. We must learn from this incident, strengthen critical codes, and build a more robust ecosystem together."

On the other hand, the Sui Foundation is discussing different scenarios with the ecosystem regarding how to evaluate the $160 million worth of stolen funds that were frozen after the incident. Among the options on the table are; returning the funds through a whitelist ( management vote or without a vote ), performing a hard fork on the network, transferring assets to a regulatory custodian, or permanently freezing the funds to reduce supply.