Unplanned SUI Unlocking: The Guilty Party Identified?
posted 27 Jul 2023
The Sui Foundation has cut ties with decentralized exchange MovEx due to a contract breach involving the illicit movement of SUI tokens.
MovEx had received 2.5 million SUI tokens (around $1.6 million) for their work on the DeepBook exchange product, under an agreement involving a staged release of the tokens. MovEx, however, broke this agreement by making three transactions of 625,000 SUI to three different wallets without the Sui Foundation's consent or awareness.
Following the breach, MovEx's total SUI allotment has been moved to a custodial wallet to ensure the release adheres to the contractual schedule.
MovEx had received 2.5 million SUI tokens (around $1.6 million) for their work on the DeepBook exchange product, under an agreement involving a staged release of the tokens. MovEx, however, broke this agreement by making three transactions of 625,000 SUI to three different wallets without the Sui Foundation's consent or awareness.
Following the breach, MovEx's total SUI allotment has been moved to a custodial wallet to ensure the release adheres to the contractual schedule.
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