Suiet wallet to shut down as Sui ecosystem departures mount

Suiet, a self-custodial cryptocurrency wallet built for Sui, is shutting down development and maintenance. The team’s official notice says API services will remain available through Nov. 14, 2026, giving users a transition period before continued wallet functionality is no longer guaranteed.

The departure comes amid declining decentralized finance activity on Sui. Cointelegraph reported on Nov. 11 that the network’s total value locked stood at approximately $413 million, citing DefiLlama, down more than 22% over the preceding month. That places the wallet closure against a backdrop of shrinking capital committed to the network’s DeFi applications.

Other measures show a more complicated picture of network use. Token Terminal figures cited by Cointelegraph put average daily active users at about 128,000 in October, compared with 601,000 in November 2025. Transactions nevertheless increased to 324 million from 101 million over those respective months, illustrating that transaction growth and audience growth can diverge.

Suiet is also joining other providers withdrawing from the ecosystem. According to Cointelegraph, hardware wallet project Suiball announced its closure on Nov. 10, while Phantom ended Sui support in September. Those departures affect the tools through which users interact with the blockchain, rather than establishing that the underlying network has stopped operating.

The immediate distinction for Suiet customers is between ownership and access. The team says discontinuing its software will not delete or transfer blockchain assets. However, once its supporting services end, users cannot assume the existing interface will continue working normally, even if an installation remains on their device.

Suiet’s transition instructions call for users to secure recovery information for every account and establish access through another compatible wallet. Separately imported accounts may need individual backups. Before removing Suiet or clearing its data, users should verify the restored address and check assets, including staking positions and holdings within applications.

The notice also distinguishes restoring an existing account from transferring assets into a newly created one. Restoring preserves the account without an on-chain movement; transfers involve network fees and possible protocol restrictions. The practical task is therefore to confirm usable access, not simply install replacement software.

The available figures do not establish why Suiet decided to close. Lower participation and provider departures raise sustainability questions, but neither alone demonstrates a common cause. Cointelegraph said Suiet and the Sui Foundation had not responded to its requests for comment before publication.

The next milestone is the API cutoff after Nov. 14. Suiet also says its Chrome Web Store extension will be sunset soon and warns users to keep recovery credentials private. Its stated transition priority is preserving account access before support ends.