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Cetus and the Foundation SUF are faced with criticisms after the validators frozen a large part of the $ 223 million stolen during the hacking of Cetus on May 22, raising centralization problems.
Cetus and the Foundation Suis announced that the validators had frozen the majority of stolen assets. According to the Cetus team, $ 163 million from $ 223 million were frozen by validators and ecosystem partners on the same day as the incident.
However, the decision to freeze the funds was criticized, several members of the web community saying that “undermines the principles of decentralization”.
“The validators followed actively transactions through the blockchain,” wrote a user on X, echoing similar articles by community members.
Validators actively censors transactions through the blockchain.
This completely undermines the principles of decentralization and transforms the network into nothing more than a centralized and authorized database.– Dave (@itsdave_ada) May 22, 2025
Another user of the name of Steve Bowyer also said This “many web projects supported by VCS” seem to “rely strongly on centralization, despite the loan from Bitcoin’s ethics”.
The security company identifies the main cause of the Hack of Cetus
The blockchain security company Dedaub identified the deep cause of the hacking of Cetus which saw the decentralized exchange platform drained of $ 223 million within 24 hours.
According to May 23 of the security company reportThe pirates exploited a fault in the most important bits check (MSB).
This “allowed them to add massive liquidity positions with a single entrance unit of tokens, subsequently exhausting swimming pools collectively containing hundreds of millions of dollars of chips,” wrote the company in their report.
The difficulties of the following prices continue
Since the Hack of Cetus, the market capitalization of Suis increased from $ 13.907 billion before the incident at around 11.67 billion dollars on May 25, according to CoinmarketcapAp data. It was after the price of the crypto also dropped by 2% in the last week and recorded another minor loss in the last 24 hours.
The market capitalization of Suis has since been awarded to approximately 12.09 billion dollars. However, the project was recently exceeded by hyperliquid (media threshing). As such, the beateering is now the 11th greatest crypto per market capitalization With its valuation of approximately 12.85 billion dollars.
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