Sui Network, a new blockchain platform, experienced an unexpected two-hour outage on Thursday. The downtime resulted from a bug in its transaction scheduling logic, which caused the validator network to fail. Fortunately, the issue has been resolved according to the network's official statement.

Several cryptocurrency exchanges, including Upbit, temporarily halted SUI transactions due to this outage. Blockchain networks can face downtimes for various reasons, ranging from technical glitches to severe attacks. A common cause is synchronization issues between the nodes processing transactions.

Software errors can also play a significant role in causing network failures, particularly if the code becomes outdated or problematic. Following the outage, SUI tokens rebounded after experiencing a nearly 7% drop.