Sui-native hardware wallet project Suiball said it would shut down and refund preorders, according to a ChainCatcher report published on November 11, 2026, at 09:57:59 (UTC+8).
Suiball said its wallet had completed development and entered production, with shipments to early supporters planned. The project attributed the shutdown to a decision by the Sui Foundation: Suiball said the foundation considered continued support for a hardware wallet too risky after several recent security incidents in the sector. The report does not independently establish the foundation’s reasoning or describe those incidents.
Suiball said approximately 80% of on-chain preorder orders would receive automatic USDC refunds within the week following its announcement, sent to wallets holding the preorder NFTs. Credit-card preorder customers were told to provide a Sui wallet address through the project’s official email to receive a USDC refund. Suiball said it would permanently delete the personal information customers provided and formally close once refunds were complete. The report does not confirm that refunds were subsequently completed.
The gap between a product reaching production and reaching customers is the central point here: development progress did not prevent the project’s closure. The stated reason remains Suiball’s account, while refund completion requires separate verification.