Suivol terminates business before first delivery... Pre-order deposits refunded in USDC

Suiball, a hardware wallet built for the Sui network, is shutting down before shipping its first product and will refund preorders in USDC. Onchain orders, which account for roughly 80% of all preorders, will be refunded automatically, while card payers must submit a Sui wallet address to receive funds. The team said it had finished development and was preparing the first shipment when it decided to close, citing the Sui Foundation's view that supporting the project carried elevated risk amid a string of security attacks on hardware wallet firms. The wind-down leaves Sui without one of its dedicated self-custody devices and shifts attention to how the foundation allocates support across its hardware ecosystem. Watch for the refund completion rate, particularly among card payers who must actively claim, and for any signal from the Sui Foundation on future hardware partnerships.