Sui crashed for the third time in under 48 hours, wiping out $1.88 million in trader positions and dragging its token below 91 cents before validators restored service. Key Points: Sui stalle
Sui crashed for the third time in under 48 hours, wiping out $1.88 million in trader positions and dragging its token below 91 cents before validators restored service.
- Sui stalled three times between May 28 and May 29, freezing user transactions during an epoch change.
- Liquidations reached $1.88 million, with long positions making up $1.72 million of that total.
- The token fell to $0.9035, down about 16% on the week, as a single gas-logic bug drove each failure.
The token dropped to $0.9035 on Binance after the third stall, extending a slide of roughly 8% since the trouble began May 28.
The $1.00 support level, which had held through much of 2024, broke during the selloff. Over the past week the token shed close to 16%, leaving its market value near $3.6 billion as selling pressure built.
Leveraged traders took the hardest blow. Those betting on a price recovery were caught when the network froze for a third time.
Long positions accounted for $1.72 million of the $1.88 million wiped out during the latest disruption, according to liquidation figures. Validators stayed online and kept producing system transactions, but user transactions stopped flowing entirely across the network.
The third stall landed during an epoch transition on May 29 at roughly 4:30 p.m. EDT, the same afternoon an earlier fix had gone live to address the first crash. Engineers later traced the failure to a latent bug in how a specific failure state survives validator restarts, a flaw that blocked the move to the next epoch.
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The trouble started May 28 when a crash bug in the gas charging logic, introduced in version 1.72 of the software, froze the mainnet for roughly five hours and 55 minutes. No new checkpoints recorded during that span, and decentralized finance activity across the network ground to a halt.
The network recovered near 8:32 p.m. UTC on May 29 after more than two-thirds of validator stake upgraded to a patched build, with no user funds lost.
A second stall hit around 12:19 p.m. UTC, flagged as a major outage, before the team acknowledged its interim fix had solved only part of the problem. An epoch transition is the routine handoff between validator committees, and the latest fault surfaced as nodes restarted and a randomness step failed to complete. Reports tie the root cause across all three failures to gas-logic changes built to enable zero-fee stablecoin transfers on the network.
This counts as Sui's third major disruption in 2026. A consensus divergence in January, when validators submitted conflicting transactions to the checkpoint mechanism, knocked the network offline for more than six hours. A congestion-related outage struck in November 2024, and the team has now promised a detailed incident review in the days ahead.
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