Leveraged traders betting on a price rebound were dealt a severe blow when the Sui blockchain network went down for the third time in less than 48 hours. Data from CoinGlass shows that long positions account for $1.72 million of the $1.88 million in SUI liquidations recorded during the recent disruption.
Ripple effect on price
but It fell to $0.9035 on Binance after the third stall, extending a decline that has now reached nearly 8% since the issue began on May 28. The $1.00 support level – a level that has held throughout most of 2024 – was broken during the sell-off, with the token falling around 16% over the past week.
Image: Protos
the third power failure It was struck during a transition period on May 29 at approximately 4:30 PM EST. The validators were ready and created system transactions, but user transactions stopped flowing completely.
The Sui mainnet stopped accepting user transactions due to an issue during the era change starting at approximately 1:30 PT. Validators have been created and system transactions generated, but user transactions are not currently being accepted. The Sui Core team is investigating, updates will be shared…
– Sui (@SuiNetwork) May 29, 2026
Sui’s team later traced the failure to an underlying flaw in how a particular failure state was maintained across validator restarts, preventing the network from completing its transition to the next epoch.
Auditors deployed a fix that addressed both the bug and the affected era, and the network was back online soon after.
Is this real? $ Sui ?
After two major outages and nearly 10 hours of downtime, SUI experienced a partial outage. This is the third outage in two days… https://t.co/pmMCYX7nnc pic.twitter.com/GLsCqnfrBq
– Fabio (@Zero2HeroZombie) May 29, 2026
How three interruptions unfolded
The problems began on May 28 when a flaw in the gas charging logic — introduced in version 1.72 of Sui’s software — took the mainnet down for approximately five hours and 55 minutes.
The Sui mainnet is back online and transactions are flowing normally.
The end of the downtime was triggered during the rollout of the long-term fix yesterday. As the validators were restarted to deploy the new binary, the random initialization process run at the beginning of each epoch could not…
– Sui (@SuiNetwork) May 30, 2026
No new checkpoints were recorded during that window. After upgrading more than two-thirds of the validator share to a patched version, the network came back online on May 29 at approximately 8:32 PM UTC. No user funds are lost.
The relief was short. A second outage was reported hours later, around 12:19 PM UTC on May 29, with the status page flagging it as a major outage.
SUI market cap at $3.6 billion. Source: TradingView
Sui’s team acknowledged that the temporary fix only addressed part of the problem, and that the network experienced a different version of the same underlying issue. Service resumed at approximately 11:34 AM EDT before the third and final disruption arrived the same afternoon.
Reports suggest that the root cause of all three outages is due to changes in the gas charging logic introduced to support zero-fee stablecoin transfers on the network.
A style worth seeing
This is the third major disruption Sui faces in 2026 alone. A six-hour consensus divergence event occurred in January, and a congestion-related outage occurred in November 2024. Sui’s team said a detailed review of the incident is forthcoming.
Featured image from Driver Easy, chart from TradingView
Editing process Bitcoinist focuses on providing well-researched, accurate, and unbiased content. We adhere to strict sourcing standards, and every page is carefully reviewed by our team of senior technology experts and experienced editors. This process ensures the integrity, relevance, and value of our content to our readers.
