TechFlow news — On October 15, the public blockchain project Sui Network stated on the X platform in response to allegations that "insiders of Sui dumped $400 million worth of tokens during this recent price surge." The Sui Foundation wishes to directly respond to this claim:
1. During this period, no insiders, the Foundation, or employees or investors of Mysten Labs (including the founders of Mysten Labs) individually or collectively sold $400 million worth of tokens. There has been no preemptive dumping by insiders, nor any violation of lock-up agreements or the circulating supply schedule.
2. Although the poster did not provide wallet addresses, we believe the likely owner of the wallet is an infrastructure partner who holds tokens subject to a lock-up agreement. All token lock-ups are enforced by qualified custodians and continuously monitored by the Sui Foundation, and this partner has fully complied with the rules.
