Sui Foundation denies insider token sale allegations

Layer-1 blockchain Sui Foundation has responded to recent claims of insiders selling $400 million worth of SUI tokens during a market rally. In a post on X, the foundation clarified that no insiders—including employees of the Sui Foundation, Mysten Labs or its investors—have sold tokens during this period. The foundation further explained that lockup schedules and custodial oversight are in place, ensuring compliance. The foundation suggested the wallet in question likely belongs to an infrastructure partner operating under a lockup schedule and confirmed that all token lockups are closely monitored.