Sui Network Fixes Staking Bug, Refunds $4,747 to Affected Wallets

Sui Network, a leading Layer 1 blockchain ecosystem, has fully reimbursed 1,376 SUI tokens to users who missed out on staking rewards from a bug. The bug affected certain token holders who unstaked their assets between epochs 560 and 563.

The Sui team implemented a fix on October 28 in epoch 564. After the fix went live, the blockchain protocol identified 1,273 wallets that had unstaked their assets between epochs 560 and 563 and missed out on a total of 1,376 SUI in rewards.

Notifying those affected through an X post (formerly Twitter), Sui stated that it reimbursed the affected wallets with 1,376 SUI (worth $4747.2 based on the token’s price of $3.46 at the time, down 5% in seven days).

Sui noted that the impact of the bug, identified on October 24, was small, but the protocol “wanted to make things right.” The network’s native token, SUI, has performed well compared to most digital assets recently, increasing 466.42% since November 2023 and reaching a market cap of $9.86 billion, according to CoinMarketCap data.

Sui Network TVL and Price Analysis

Data from DefiLlama shows the total value locked (TVL) in the Sui ecosystem grew from $159 million on November 28th, 2023 to $1.62 billion on November 19th. At the time of publication, the TVL of Sui Network is $1.4 billion with a stablecoin volume of $330 million.

SUI token’s price analysis using Accumulation/Distribution shows that the accumulation of the digital asset remains on the rise while the gradient of the line suggests increased investors’ interest.

Read also: Sui Network Outage Impacts SUI Price: What Investors Need to Know

The Relative Strength Index is above 60, which confirms that buyers are still dominant in the space and the gradient of the line suggests sluggish momentum in the short term. With a 17.39% drop in trading in the past 24 hours, traders can expect the sluggish trend to continue for a while.