Suiball (@suiballO), a hardware wallet built for the Sui network, is shutting down before shipping its first devices. The team said the Sui Foundation (@SuiFoundation) decided that backing a hardware wallet project is too risky after a recent run of attacks on hardware wallets across the industry. All pre-orders will be refunded in USDC ($USDC).
Project Had Reached Manufacturing
Suiball was introduced at SuiFest in Singapore in October 2025 as a hardware wallet built specifically for the Sui network. Crypto Adventure reported that Citadel Wallet introduced the device, positioning it with native Sui integration, clear transaction signing and support for decentralized applications.
The team said development was complete and the product had entered manufacturing, with the first batch being prepared for shipment to early supporters. The closure also comes less than a month after Suiball had already postponed shipments to carry out further security testing.
Suiball has not identified which incidents shaped the foundation's decision. Crypto Adventure said the project has not reported any security breach affecting its own hardware.
How the USDC Refunds Will Work
Suiball said about 80% of pre-orders were placed on-chain. Per 36Crypto, those refunds will go directly to wallets holding the soulbound NFTs issued for the original pre-orders, require no action from customers, and are expected within a week of the announcement.
Customers who paid by credit card will receive an email asking for a Sui wallet address. Once those addresses are collected, the team plans a second USDC airdrop to settle the remaining orders. 36Crypto reported that Suiball will permanently delete personal information collected for deliveries, including names, email addresses and phone numbers, once refunds are complete.
Crypto Adventure also reported that Suiball warned it will never ask for seed phrases, private keys or additional payments, and told customers to respond only to emails from its official address.
The shutdown ends a project that spent years in development without a retail release. The Sui Foundation has not been quoted directly in the coverage reviewed, so the reasoning comes from Suiball's own account of the decision.
Sources:
Crypto Adventure: Suiball Shuts Down, Promises Full USDC Pre-Order Refunds
36Crypto: Sui Hardware Wallet Project Suiball Shuts Down Over Security Concerns
