Sui hardware wallet Suiball shuts down before shipping first batch and issues USDC refunds
Suiball has canceled the rollout of its Sui-native hardware wallet and initiated full USDC refunds for pre-order customers after the Sui Foundation deemed backing the device too risky following recent industry attacks.
Suiball, a project developing a Sui-native hardware wallet, has announced it is shutting down and ending operations once all pre-orders are refunded. The team said the decision came after the Sui Foundation determined that the risk of backing a hardware wallet project was too high right now following a wave of attacks targeting crypto hardware wallets across the sector.[1][2][4][7]
The closure comes after years of development, with the device having already entered manufacturing and its first production batch prepared to ship to supporters before any units reached buyers. Suiball stated that it accepted the foundation's priority on ecosystem security and confirmed that 100% of pre-orders will be refunded in USDC.[2][3][4][6][8]
According to Suiball's announcement, on-chain pre-orders represent approximately 80% of total orders and will be automatically refunded via USDC airdropped within the next week to wallets holding the project's soulbound pre-order NFT. Customers who purchased via credit card will receive an email requesting a Sui wallet address to receive their refund, followed by a second airdrop round. Suiball noted that all delivery records, including customer names, addresses, and phone numbers, will be permanently deleted once refunds are finalized.[2][3][4][5]
Key facts
- Suiball is shutting down its Sui-native hardware wallet project and will officially close after completing customer refunds.
- The project attributed the shutdown to the Sui Foundation deciding the risk of backing a hardware wallet was too high amid recent industry attacks.
- Suiball had entered manufacturing and prepared its first batch for delivery before shutting down prior to shipping.
- On-chain pre-orders make up roughly 80% of orders and will receive automatic USDC refunds via airdrop to soulbound NFT holders within a week.
- Credit card buyers will receive USDC refunds by providing a Sui wallet address through email, distributed in a second airdrop.
- All personal customer information collected for shipping will be permanently deleted once refunds conclude.
Sources · 8 sources
- TB
The Block@TheBlockCoPost on X ·
THE BLOCK: Suiball, a Sui-native hardware wallet project, said it will shut down after the Sui Foundation decided that backing the project was too risky due to a recent wave of attacks on crypto hardware wallets. sui:native https://t.co/mygRKKGqug
Open source - CP
Crypto Patel@CryptoPatelPost on X ·
$SUI HARDWARE WALLET SHUTS DOWN BEFORE ITS FIRST SHIPMENT. Suiball had completed development, entered manufacturing and was ready to ship. However, the Sui Foundation decided the security risks of backing the project were too high following recent industry attacks. → 100% $USDC refunds for pre-orders. → Customer data permanently deleted after refunds. → Operations end once all refunds are complete. @suiballO
Open source - AI
Analytics Insight@analyticsinmePost on X ·
𝗦𝘂𝗶𝗯𝗮𝗹𝗹 𝗦𝗵𝘂𝘁𝘀 𝗗𝗼𝘄𝗻 𝗦𝘂𝗶 𝗛𝗮𝗿𝗱𝘄𝗮𝗿𝗲 𝗪𝗮𝗹𝗹𝗲𝘁 𝗣𝗿𝗼𝗷𝗲𝗰𝘁, 𝗦𝘁𝗮𝗿𝘁𝘀 𝗥𝗲𝗳𝘂𝗻𝗱𝘀 Suiball has officially ended its Sui hardware wallet project before its first devices reached customers. The company will refund all pre-orders in USDC through two rounds, with around 80% of buyers eligible for automatic refunds. The shutdown follows growing security concerns across the crypto hardware wallet industry. #Suiball #SuiBlockchain #CryptoNews #USDC #HardwareWallet #CryptoSecurity #SuiFoundation #AnalyticsInsight #AnalyticsInsightMagazine Read More 👇 https://t.co/BX7X7B4iU6
Open source - DN
DEGEN NEWS@DegenerateNewsPost on X ·
NEW: SUI HARDWARE WALLET @suiballO IS SHUTTING DOWN, SAYING THE SUI FOUNDATION DECIDED "THE RISK OF BACKING A HARDWARE WALLET PROJECT WAS TOO HIGH RIGHT NOW" AFTER RECENT INDUSTRY ATTACKS PRE-ORDERS TO BE REFUNDED IN $USDC https://t.co/n0TIUYznPv
Open source - DE
Decrypt@DecryptMediaPost on X ·
Suiball Shuts Down Before Shipping, Refunds Pre-Orders in USDC. The Sui hardware wallet said the Sui Foundation decided backing a hardware wallet project was too risky after a wave of industry attacks, with onchain pre-orders refunded in USDC within the next week. https://t.co/oN4a0rfpOq
Open source - BS
BSCN@BSCNewsPost on X ·
Sui Hardware Wallet Shuts Down After Years of Development & Expectations Suiball (@suiballO) is shutting down despite completing development and preparing its first hardware wallet batch. The team says the Sui Foundation (@SuiFoundation) $SUI considered backing the project too risky after recent hardware wallet attacks. Per reports, the project had reached manufacturing and was preparing its first shipment. The project noted that all pre-orders will be refunded in USDC.
Open source - TW
The Wolf Of All Streets@scottmelkerPost on X ·
SUI-NATIVE HARDWARE WALLET SUIBALL SHUTS DOWN, SAYING THE SUI FOUNDATION DECIDED BACKING IT WAS TOO RISKY AFTER RECENT ATTACKS https://t.co/9K238hIhV8
Open source - CB
Crypto Banter@crypto_banterPost on X ·
🚨SUI FOUNDATION SAYS HARDWARE WALLETS RISK IS TOO HIGH! @suiballO, a sui:native native hardware wallet that had completed development and entered manufacturing, is shutting down and refunding all pre-orders. The team said the Sui Foundation decided the risk of backing a hardware wallet project is too high right now following a wave of industry hardware wallet attacks. The project accepted the decision and is processing USDC refunds.
Open source