Sui (SUI) opened its Secret Transfers feature for public testing on June 8, hiding token balances and transfer amounts on-chain while leaving senders, recipients, and validators’ access visible.
The design diverges sharply from privacy coins like Monero (XMR). SUI hides numbers but maintains the controls that exchanges, analytics companies, and regulators rely on, and this feature is aimed at enterprises rather than full anonymity.
A privacy model designed for compliance
Secret transfers allow token issuers to operate private mode where balances and transfer amounts remain encrypted on Sui blockchain network. The sender and recipient addresses, token type, and transaction timing remain public.
“Secret Transfers is now available in public beta on Devnet, with a Testnet launch targeted for later this year.” He reads Excerpted in the ad.
Encryption uses Twisted ElGamal encryption via Ristretto255, combined with zero-knowledge proofs.
These proofs allow the network to confirm the authenticity of the transfer without revealing the amount, preventing overdrafts and unauthorized minting at the protocol level.
Mysten Labs published the open source code on githubwhere it remains unaudited and is marked as a work in progress. Version depends Co-founder preview From the system.
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Where to cut Sui with Monero
Monero hides the three layers of the transaction. Ring signatures obscure the sender, hidden addresses obscure the recipient, and secret ring transactions conceal the amount. No outside party can decrypt that data.
This obfuscation has had a cost. Dozens of exchanges have withdrawn Monero over compliance concerns, a pattern that has fueled it demonetisation of privacy And intermittent Privacy coin rotation across the market.
Sui takes the opposite route. Issuers can attach audit keys so authorized parties can decrypt balances when needed, and retain freeze and seize powers.
Users can also prove the balance or transfer amount without revealing their keys.
Why do exporters and institutions care?
This approach targets payment companies, stablecoin issuers, and treasury teams that cannot broadcast their flows. Balances can reveal strategy, and transaction sizes can reveal trading relationships.
Bridge is exploring the system as a stablecoin and payments platform. TRM Labs and Merkle Science are testing how risk logging, monitoring and investigations work within the confidential model.
However, Sui has survived a difficult period, including Three main network outages In late May.
Which confidential transfers attract the institutional users the chain wants will depend on how partners and regulators respond to the controlled privacy model.
After the backdoor transfers debuted, the price of the SUI token rose approximately 5%, trading for $0.76 as of this writing, which is broadly in line with broader prices. The altcoin market is torn apart.
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