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Suiet wallet to shut down in latest exit from Sui ecosystem

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November 12, 2026
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Suiet wallet to shut down in latest exit from Sui ecosystem
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In the meantime, different current closures have additionally raised issues in regards to the prices and challenges of protecting tasks operating on the Sui community.

“Sui’s issues appear to principally be of an financial nature ensuing from costly engineering prices and low consumer quantity quite than protocol failures,” Kadan Stadelmann, former chief expertise officer of Komodo Platform, informed Cointelegraph. “No flaw in the system’s core design has been discovered.”

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Cointelegraph reached out to the Sui Basis and Suiet for remark however had not obtained responses by publication.

Latest closures and departures

Suiet’s shutdown instantly follows the Sui-based {hardware} wallet challenge Suiball additionally saying its closure on Nov. 10. In the meantime wallet supplier Phantom ended assist for Sui in September.

DeFi challenge Full Sail additionally shut down following a safety incident involving Switchboard that precipitated about $91,000 in losses.

Regardless of the decline in lively customers, transactions on Sui have elevated, reaching 324 million in October, up from 101 million in November 2025, in accordance to Token Terminal. Nonetheless, extra transactions don’t essentially imply extra customers, and wallet suppliers should nonetheless resolve whether or not supporting the community is value the fee, in accordance to Stadelmann.

“Multi-chain wallets have expansive assault surfaces, and Sui’s strategy provides prices for distributors who can take their enterprise to much less capital intensive chains,” he mentioned. “Any particular person failure of a multi-chain wallet is extra a mirrored image of the dangers quite than an indictment of any given protocol.”

A sequence of outages

Sui has additionally skilled 4 community outages in 2026, ensuing in round 22 hours of mixed downtime, in accordance to stories printed by the Sui Basis.

The community stopped processing transactions for about six hours in January, adopted by three extra outages on Might 28 and 29. The Might disruptions have been linked to software program bugs, together with issues launched by a community replace, the Sui Basis mentioned on the time.

By comparability, rival blockchain Solana has not recorded a network-wide outage since February 2024, when it went offline for almost 5 hours. In the meantime, Aptos, which makes use of the identical underlying good contract programming language as Sui, final reported a mainnet outage in October 2023.

Community outages are important as a result of they will stop DeFi customers from buying and selling, transferring funds or managing positions, though the Sui Basis mentioned no consumer funds have been in danger throughout its Might disruptions.



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