Sui Official: An Additional $10 Million to Be Invested in Enhancing Security on the Sui Blockchain

According to a report by Jinse Finance, Sui's official statement indicated that the root cause of the Cetus incident was a vulnerability in Cetus's own math library, rather than a security issue with Sui or Move. However, the impact on users is the same. This week, Sui will introduce some security measures that have already been implemented and announce several new plans, demonstrating a firm commitment to supporting Sui developers in securing their applications. Sui will launch a program with an additional investment of $10 million for security initiatives. This funding will be used for audits, bug bounty programs, formal verification, and other measures to enhance Sui's security, with specific details to be discussed and determined with the developer community. Our original intention in designing Sui was to support safer smart contract development, and we will learn from this incident to strengthen critical code on Sui and help developers collectively improve security defenses.