Sui Network blockchain down for more than two hours

It is suspected that the Sui Network has been down for more than two hours. The protocol has not produced any new transaction blocks since 9:15 UTC on November 21.

Data from the Sui Vision rover shows that the protocol was recorded at 09:15 UTC | Source: Sui Vision

According to the latest data from Sui Network’s explorer site Sui Vision, the decentralized layer-1 blockchain stopped producing blocks for more than two hours.

At the time of this writing, the last trading block occurred on November 21st at 9:15 UTC. Since then, no new blocks have been produced on the blockchain.

Sui Network confirmed the outage on its official X account, stating that the blockchain is currently unable to process transactions. However, it is claimed that the problem has been detected and will return to normal soon.

“We have identified the issue and a fix will be released shortly. Thank you for your patience and we will continue to provide updates,” wrote X.

Service Announcement: The Sui network is currently experiencing an outage and transactions are not processing. We’ve identified the issue and a fix will be implemented shortly. Thank you for your patience and we will continue to provide updates.

— Sui (@SuiNetwork) November 21, 2024

Sui’s blockchain outage apparently affected the SUI token price. According to crypto.news data, the Sui token has fallen by approximately 2% in the last hour. It is currently trading at $3.41. In the last 24 hours, SUI decreased by 7.29%.

However, the token has increased by almost 75% in the past month.

SUI is currently ranked 18th in the cryptocurrencies rankings, holding a market cap of $9.7 billion and a fully diluted valuation of $34 billion. The Sui token has a circulating token supply of $2.8 billion.

South Korean crypto exchange Upbit announced that it will temporarily suspend deposits and withdrawals for the Sui token due to the block-generating outage.

The notice informs users that if they deposit or withdraw Sui tokens after the announcement is published, there is a possibility that their funds may not be refunded.

Several crypto industry figures approached X for comment on the recent Sui Network outage. Many mocked Sui’s goal of becoming Solana’s greatest rival. Ironically, the Solana blockchain has a history of outages in the past as well, with the most recent one recorded in February of this year.

“Sui [is] just repeating Solana history,” said one X user.

“Didn’t Solana fall over and over again?” asked another X user.

“SUI blockchain is not working. And they claimed to be a Solana Killer,” crypto YouTuber Ajay Kashyap wrote on the X post.