As hard as it is to say, no matter how cutting-edge walrus-2:native or $DEEP โs technology might be, with charts like these, nobody is going to give a fuck.
I'm one of the people most directly responsible for this outage. I take Sui outages extremely personally and am incredibly disappointed that this happened.
I'll echo what @EvanWeb3 said: Moving fast is no excuse for outages. This outage was caused primarily by an edge case in gas smashing introduced by address balances. However, we did not ship this feature carelessly. We spent over 6 months testing address balances and tried as hard as we could to exercise every edge case and combination of features we could think of. Unfortunately, we were bitten by an edge case that we did not discover during testing.
Again, this is not an excuse - it shows that our testing strategy was inadequate, despite how much effort we put into it. We did not have a systematic way to enumerate or discover all possible edge cases. We will be re-examining our approach in light of this. But I do want to emphasize that we did not ship this feature carelessly or in a rush. We made mistakes, but we were absolutely not operating in "move fast and break things" mode.
One more thing: Address Balances is by far the biggest change to Sui's execution model that we have shipped, and we don't have any plans to ship anything this large and disruptive again. It was a necessary change to make Sui into what it should be, but we don't seek out huge disruptive changes like this for the sake of it.
Now that the feature is out we will be redoubling our efforts to make Sui the most reliable L1. We have a lot of work to do, I'm excited to start on it!
May was MASSIVE!๐ฅ Here's what went down:
๐ฃ @EmanAbio spoke at @consensus2026 on Walrus Memory and shared how agentic memory can follow you anywhere you go on the internet.
๐ฆญ We brought Walrus to Miami for Sui Live, where our booth was packed all day and Tusk Terrace hit capacity at An Evening with Sui.
๐๏ธ Walrus is a Headline Partner at Sui Overflow 2026 with our own Walrus Track and a $70K prize pool.
๐ค @OpenTusk launched as the home for long-term agentic memory, with everything encrypted client-side, stored on Walrus, and owned by the user.
๐ฅ@Talus_Labs is now live on Walrus Mainnet.
๐ค https://t.co/80yNdnRvow by @OpenGradient went live featuring a Walrus AI twin, bringing AI chatbots with data that's verifiable by default.
๐ฐ Predictable Pricing launched on Walrus, giving builders clearer cost visibility as they scale.
๐ ๏ธ We partnered with @tatum_io on a two-week online hackathon with $2,000 in prizes, which kicked off May 23.
โก The boosted WAL vault on Slush Strategies is now permanent, so you can deposit anytime and earn boosted rewards while you hold.
๐จโ๐ป We dropped a new blog on how to store and retrieve data from iOS and macOS with iWalrusSDK.
๐๏ธ Hosted a Discord AMA with @OpenTusk founder Richard Caetano on how 29 MCP tools, client-side encryption, and SEAL access control come together for AI agents that actually remember.
๐๏ธ Featured @at_bellyseal on our X Space, where creators can train their style once and pull consistent generations from it while Walrus keeps the receipts.
๐ฅ We dropped partner interviews from Sui Live in Miami with @AlliumLabs and @tatum_io.
This month was AI-heavy. June is bigger. ๐ฆญ
๐จ Security Alert for Old Sui NFT Project: Puggies ๐จ
Attention to anyone holding the "Puggies" NFT collection! The project's image domain has been compromised and is acting as a malicious download endpoint.
๐ My Investigation Process: After my antivirus blocked downloads on Suivision/Suiscan, I inspected the network requests via browser DevTools (F12). I found that in the portfolio API response, the image_url and collectionLogo of the old "Puggies" collection had been hijacked and replaced with malicious links. Alarmingly, the explorer APIs still return "verified": true and "scamFlag": 0 for this collection.
โ ๏ธ The Trigger Mechanism: When you (or anyone) look up the contract or a holder's address, the browser automatically requests these hijacked URLs to render the portfolio. This triggers a background download of a malicious file (usually a .rar archive), leaving frontends completely defenseless.
๐ก๏ธ Security Actions:
DO NOT Search: Do not look up the Puggies contract or any holder's address on explorers out of curiosity. This will instantly trigger the malicious download.
Check your downloads: If you find an unknown .rar file, DO NOT extract or run it. Simply permanently delete it (Shift + Delete). It is harmless if unopened.
Antivirus blocks: If your antivirus quarantines the file, your protection is working. Do not whitelist it.
NEVER Interact or Burn: Do not attempt to transfer or "Burn" this NFT. Interacting can trigger hidden malicious contract approvals.
Hide via Frontend: Holders should open their wallet app (e.g., Sui Wallet) and set the "Puggies" collection to "Hide" to stop auto-fetching.
@SuiCommunity@blockvisionhq@suiscanofficial@SuiPugwif@EmanAbio@Walrus_CN@WalrusProtocol@SuiFoundation
#Sui #SuiNetwork #Web3Security #Puggies
Hot take: the stablecoin duopoly doesnโt survive the next 5 years.
Regulation wonโt kill stablecoins, but it will localize them.
After working closely with issuers, regulators, and users over the past few years, itโs clear the next phase is licensed, fragmented, and jurisdiction-led.
Asia is where this future is already taking shape.
Full thesis below. Open to discussion.