The Sui blockchain is grappling with a critical situation as it experiences its third outage in less than two days, causing turmoil among leveraged traders and triggering substantial liquidations. The study highlights an alarming trend: such frequent disruptions can lead to significant financial losses for investors.
Sui Network Halts Transactions
On May 29, 2026, the Sui network halted user transactions due to a latent bug that emerged during an epoch transition. This technical failure has had dire consequences, with SUI's price plummeting to 0.09035 on Binance, breaching the vital support level of 100.
Significant Fallout and Liquidations
The fallout from this outage has been significant, leading to approximately $172 million in liquidations across the trading platform. In response to the crisis, the Sui Core Team is actively investigating the underlying issue and has committed to providing updates as they work towards a resolution.
Amid the recent turmoil in the Sui blockchain due to outages, it's noteworthy that just days earlier, Sui had announced a significant enhancement in stablecoin transfers by eliminating gas fees. For more details, see more.
