Sui Official: An additional $10 million will be invested to strengthen Sui's on-chain security

Sui's official statement said that the root cause of the Cetus incident was a vulnerability in Cetus' own mathematical library, not a security issue with Sui or Move. But the impact on users is the same. This week, Sui will introduce some of the security measures that have been implemented and announce several new plans to demonstrate its strong commitment to supporting Sui developers in ensuring the security of their applications.
Sui will launch a program to invest an additional $10 million in security initiatives. The funds will be used for audits, bug bounty programs, formal verification, and other measures to strengthen Sui's security. The details will be discussed with the developer community. We designed Sui to support more secure smart contract development, so we will learn from this incident, strengthen important code on Sui, and help developers improve security together.