Sui Wallet Suiet to Shut Down as Service Exits Mount Across Ecosystem

Suiet, a self-custody wallet built on Sui, is shutting down, adding to a string of service withdrawals from the ecosystem as network deposits and user activity decline.

Cointelegraph reported on Nov. 11 that Suiet had announced it would end wallet updates and support. Its application programming interface, or API, service will also be discontinued after Nov. 14.

Ecosystem activity metrics have also deteriorated. DefiLlama data show Sui's total value locked stood at about $413 million, down more than 22% over the past month. Token Terminal data show average daily active users fell about 79% to roughly 128,000 in October from about 601,000 in November 2025.

Other services have also pulled out. Hardware wallet project Suiball announced on Nov. 10 that it would shut down, and Phantom ended support for Sui in September. DeFi project Powsche also ceased operations after losing about $91,000 in a Switchboard security incident.

Kadan Stadelmann, former chief technology officer at Komodo Platform, said Sui's problems appear to be economic rather than rooted in protocol flaws, citing high engineering costs and a small user base. He added that multichain wallets have many points of exposure to attacks and that Sui's architecture raises costs for service providers.

The network has also faced stability issues. A Sui Foundation report said four network outages this year resulted in cumulative downtime of about 22 hours. After an outage lasting about six hours in January, the network suffered three more disruptions on May 28 and May 29. The May outages were attributed to a software bug during a network update.