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Sui Network Mainnet Postmortem: 3 Major Incidents Caused by Upgrade, No Rollback of Confirmed Transactions

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Sui Mainnet Experienced Three Outages Over May 28-29, 2026; User Funds Remain Safe **June 1 Update** Sui’s June 1 official announcement (originally in Chinese, translated for clarity) reviews three network outages on its Mainnet, occurring in Pacific Time (UTC-7) on May 28 (Thursday) and May 29 (Friday), 2026. Root causes for the first two outages: A crash bug arising from interactions between the network’s Gas billing logic and its newly launched Version 1.72, which introduced the Address Balances feature. To get the network back online quickly, the Sui core team deployed a temporary fix for the Thursday outage—even though this fix carried a low probability of causing another failure, the team accepted the risk to prioritize rapid recovery. A variant of this same known issue caused the Friday morning outage. The third outage hit Friday afternoon during a routine Epoch transition. When validation nodes restarted to deploy the Friday morning fix, a long-dormant latent bug related to randomness state saving was triggered, leading to another network failure. Downtime timelines (PT): 1. Thursday: ~7:00 AM PT to 1:30 PM PT 2. Friday (morning): ~5:00 AM PT to 8:30 AM PT 3. Friday (afternoon): ~1:30 PM PT to 7:20 PM PT Key notes: The Sui team confirmed user funds were secure during all outages, and no confirmed transactions were rolled back post-recovery. All verification nodes have now fully patched both the original Gas charging bug and the randomness state vulnerability, with network activity back to normal.
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Bitcoin briefly drops below $73,000

June 1st, per HTX market data, Bitcoin briefly dipped below $73,000 and is now trading at $73,094, down 1.34% over the past 24 hours.

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Japanese and South Korean Stock Markets Open High and Close High, Continuing to Reach New Closing Highs

According to Bitget data, on June 1st, both Japan’s Nikkei 225 Index and South Korea’s KOSPI Index notched record closing highs. The Nikkei closed up 604.83 points, or 0.91%, at 66,934.33 points. The KOSPI also saw solid gains, rising 311.85 points (a 3.68% jump) to end the session at 8,788.0 points.

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2 new addresses withdrew 984 bitcoins from BitGo 1 hour ago

Breaking: On June 1st, per LookOnChain’s monitoring, two newly created wallets withdrew 984 Bitcoin (valued at $72 million) from the BitGo platform just one hour ago.

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US Stock Market Closed for the Weekend, Hyperliquid Facilitates Nearly $1 Billion Trading Volume from Traditional Markets: Crude Oil, US Stock Indices, and Micron Technology Lead the Way

June 1: Per Hyperinsight monitoring, during the U.S. stock and commodity markets’ weekend trading closure, Hyperliquid continued to absorb excess trading demand from the traditional finance space. Over this weekend period, Hyperliquid’s total open interest (OI) hit $914 million, covering indexes, commodities, stocks, pre-market assets, and other asset classes. Traditional assets now account for roughly 19% of Hyperliquid’s total weekend trading volume. Looking at individual assets, commodities and U.S. stocks dominated weekend trading activity: - WTI Crude Oil (WTIOIL): $153.5 million in weekend trading volume, ranking first among all RWA assets, with a 1.22% price gain - Nasdaq 100 (XYZ100): $127 million in trading volume, up 0.75% - S&P 500 (SP500): $118 million in trading volume, gaining 0.46% - Brent Crude Oil (BRENTOIL): $73.7 million in trading volume, rising 1.31% - Micron Technology (MU): $54.5 million in trading volume, surging 4.15% — marking the largest gain among top-trade

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Ethereum Nearing All-Time High Price Once Again as Whales Reduce Their Positions

June 1: According to HyperInsight’s monitoring, the cryptocurrency market continued its downward trend this afternoon, with Ethereum (ETH) dropping below the $2,000 mark to $1,984.50. This price level has once again neared the long liquidation threshold of a major Ethereum whale trader. In response, the whale has urgently reduced its ETH holdings by 200 coins, bringing its current position to $7.74 million worth of Ethereum held with 25x long leverage. The trader’s latest liquidation price now stands at $1,971.81.

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「Son of Wall Street Bets」 Leopold only held 3 small-cap stocks in Q1, with gains of over 100%

On June 1st, on-chain analyst Ai Yi (@ai_9684xtpa) noted that Leopold Aschenbrenner’s Sentient Fund only established new positions in three small-cap stocks—each with a market capitalization under $1 billion—during the first quarter. All three assets have posted price surges of more than 130% since April. The stocks in question are T1 Energy Inc. (up 140.5%), SharonAI Holdings (up 233.6%), and HIVE Digital Technologies (up 137.9%), all part of the AI infrastructure sector spanning power energy, cloud computing, and digital infrastructure. These holdings align with Aschenbrenner’s core investment thesis: betting on the physical bottlenecks limiting AI development. Given Aschenbrenner’s market influence, the three stocks saw varying degrees of gains on the day their 13F filings were made public.

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