- Phantom announced it will end its support for Sui by September 24, citing only the expiration of their collaboration.
- After the deadline, the platform will no longer display balances or support transactions on Sui.
- However, Phantom assured users that they can still access their Sui assets using a compatible wallet with the same credentials if they fail to act on the transition phase.
Phantom, a popular self-custodial, multi-chain crypto wallet, opened the week with an announcement of a major change to its supported tokens. On Monday, it informed the public that it’s ceasing support for the Sui (SUI) network, a high-performance Layer-1 (L1) blockchain.
Phantom Ending Support for Sui
According to Phantom, its wallet will transition to the new setup by September 24, 2026, giving SUI holders in its ecosystem a full month to do the necessary off-boarding process. It warned that users will no longer be able to view, send, swap, or interact with Sui assets on its platform after the deadline.
However, the crypto wallet provider clarified that those who fail to act on the notice will not lose their assets. Their tokens will remain on the Sui chain, but they will need a compatible wallet with the same credentials to interact with them past the due date.
Still, Phantom recommended that Sui holders convert or move their assets to another wallet that supports them to avoid inconvenience. The platform has waived all fees related to Sui swaps on its network to help users during the transition.
As a side note, it reminded users not to entertain emails or calls asking for their wallet credentials, including their recovery phrase or private keys, even from people claiming to be from Phantom or Sui. It advised treating such migration assistance offers as a scam.
Reason for the Decision
Phantom said its move stemmed from a mutual decision with Sui. It explained that both parties have ended their collaboration after only forging their partnership 20 months ago.
Beyond that, both declined to provide more details. Nonetheless, both assured the crypto community that they are leaving the door open for other possible strategic partnerships in the future.
Phantom’s lack of a clearer reason has only fueled widespread speculation and criticism over its sudden split with Sui. Some pointed out that the wallet’s decision to end support for networks of its choosing, without a valid explanation for users, is a huge red flag and may imply a double standard from a major self-custodial provider.
Others speculated that Phantom’s judgment may be due to low adoption or activity of Sui on its platform. But again, neither the critics nor the wallet provider has released any data to support those assumptions.
Meanwhile, on-chain data on DeFiLlama indicates Sui’s Total Value Locked (TVL) has significantly declined from more than $2.7 billion in October 2025 to roughly $470 million at present.
