Suiball Shuts Down, Promises Full USDC Pre-Order Refunds

Suiball, a hardware wallet developed specifically for the Sui blockchain, is shutting down before its first devices reach customers, with all pre-order payments set to be refunded in USDC.

The November 11 shutdown announcement follows a decision by the Sui Foundation to withdraw support from the project amid growing security concerns surrounding hardware wallets.

Suiball said the foundation considered the risks of continuing to back a hardware wallet project too high following several recent attacks across the industry. The company accepted the decision despite having completed development, entered manufacturing and prepared its first batch of devices for shipment.

The closure ends a project that had spent years developing a dedicated hardware wallet for the Sui ecosystem. Citadel Wallet introduced Suiball in October 2025, positioning it as a device with native Sui integration, clear transaction signing and support for decentralized applications.

Its planned features included a touchscreen, an EAL6+ secure element, Bluetooth connectivity and native Bitcoin support. The wallet was also designed to interact directly with Sui-based DeFi applications, reducing dependence on third-party wallet interfaces.

Suiball has not reported any security breach affecting its own hardware or identified the specific incidents that prompted the foundation’s decision.

The wider hardware wallet sector has faced several distinct security problems in recent months. In October, Ledger investigated suspected wallet drains involving devices sold through reseller CryptoBilis, while Keystone suffered a customer data breach exposing names, shipping addresses and purchase records.

Separately, Foundation Passport users were targeted by fraudulent recall notices designed to steal recovery phrases. Those phishing attacks did not establish a vulnerability in Passport hardware.

USDC Refunds to Begin Within a Week

Suiball will refund customers through two separate processes depending on how they originally placed their orders.

Approximately 80% of pre-orders were completed onchain, with customers receiving soulbound NFTs representing their purchases. These buyers will receive USDC directly into the wallets holding their pre-order NFTs, without needing to submit claims or complete additional transactions.

The first refund airdrop is expected to be completed within a week of the November 11 announcement.

Customers who paid by credit card will receive an email requesting a Sui wallet address. Their refunds will be distributed in USDC through a second airdrop once the necessary addresses have been collected. No specific deadline has been announced for this second round.

The refund process also creates an opportunity for phishing attempts targeting customers expecting payments. Suiball warned that it will never request seed phrases, private keys or additional payments, and instructed customers to respond only to emails from its official address.

Once all refunds have been distributed, Suiball plans to permanently delete customer information collected for device deliveries, including names, email addresses, shipping addresses and telephone numbers.

The project will formally cease operations after the refund process is complete.

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