Sui DeFi TVL Fell More Than 22% as Suiet Shuts Down After November 14

Suiet is ending API services after November 14, 2026 and sunsetting its Chrome extension as Sui DeFi TVL fell more than 22%. Daily active users also declined about 79%, while transaction volume rose.

CryptoMEV Bot NewsroomNov 12, 20264 min read

Black and white photo of the back of a computer server rack with cooling fans and numerous cables. — Image: rawpixel / rawpixel via Openverse (CC0)

Suiet users holding accounts or assets must back up their recovery information and transition to a supported Sui wallet before November 14, 2026, because the extension may soon stop reliably displaying balances, sending transactions, or connecting to applications. The browser extension wallet’s team said development and maintenance will end, with API services maintained through November 14 and then stopped.

What changes for Suiet users on November 14?

Before	After
API services are maintained through November 14, 2026	API services stop after November 14, 2026
The Chrome extension remains available during the transition period	The extension is being sunset soon and may no longer reliably display balances, send transactions, or connect to applications
Assets remain on the Sui blockchain	Assets remain on the Sui blockchain and are neither moved nor deleted by the shutdown

Readers should check the following before discontinuing Suiet:

Back up the recovery phrase or private key for every account used in Suiet, including separately imported accounts.
Restore each existing account through the new wallet’s official recovery flow and confirm that its address matches.
Review staking positions and assets held in applications.
Confirm access before uninstalling Suiet or clearing its data.
Never send a recovery phrase or private key to a website or support message.

The official Suiet announcement says Suiet has no mobile apps and that its Chrome extension will also be sunset soon. Crypto Briefing named Scallop and Slush as alternatives and reported that the official Sui team had been informing users about migration paths.

Restoring an existing account in a compatible wallet does not itself move assets on-chain. Transfers to a new address are subject to normal network fees and applicable protocol restrictions.

Why are wallets leaving the Sui ecosystem?

According to Crypto Briefing, Sui’s DeFi TVL stood at approximately $416.92 million on November 11, after falling more than 22% over the previous month.

Phantom withdrew support for Sui on September 24, 2026, according to Crypto Briefing. Traders Union reported that the Suiball hardware wallet project closed on November 10, 2026, while Crypto Briefing dated its shutdown announcement to November 11. Full Sail also shut down after a Switchboard-related security incident that caused about $91,000 in losses.

The activity figures were mixed. Token Terminal data showed Sui averaging about 128,000 daily active users in October 2026, compared with 601,000 in November 2025, a decline of roughly 79%. Transactions over the same comparison period rose from 101 million to 324 million. Traders Union noted that higher transaction counts did not necessarily translate into a broader user base or better economics for wallet providers.

Are funds at risk when Suiet shuts down?

Suiet is a self-custodial wallet, so its assets exist on the Sui blockchain rather than inside the extension. Discontinuing Suiet will not move or delete those assets. The operational risk is access through the wallet interface: once its API services go offline, the extension may not reliably show balances, submit transactions, or connect to applications.

Network reliability is a separate issue. Sui recorded four outages in 2026, totaling about 22 hours, according to reports published by the Sui Foundation. Traders Union said such interruptions can disrupt trading, transfers, and position management. The foundation said no user funds were at risk during the May disruptions.

Shutdowns can also attract impersonation attempts, and users should treat any unsolicited migration link or request for recovery details with caution. Suiet’s transition guidance specifically warns against entering recovery phrases into websites or sending them through support messages, including messages claiming to represent Suiet.

What should on-chain traders watch?

The clearest operational issue is endpoint availability rather than a disappearance of assets. Traders running automated strategies should distinguish wallet and chain availability from market activity: separate resources on multi-strategy DeFi arbitrage tooling and following top traders do not alter Suiet’s shutdown terms.

Kadan Stadelmann, former chief technology officer of Komodo Platform, said high engineering costs and low user volume were making ecosystem projects harder to operate. He also said:

"an individual wallet failure reflects operating and security risks more than a direct indictment of any one protocol." — Kadan Stadelmann, former chief technology officer of Komodo Platform

For automated and discretionary traders alike, the immediate facts are the November 14 API deadline, the extension’s impending sunset, the need to verify restored addresses, and the requirement to keep recovery credentials out of websites and support channels.