Why have supersymmetric particles not been observed?

If low-energy supersymmetry is the solution to the hierarchy problem, it is a puzzle why supersymmetric particles have not been observed experimentally to date. We show that supersymmetric particles in the TeV region can be explained if the fundamental cut-off scale of the theory is smaller than the 4-dimensional Planck scale and if thermal leptogenesis is the source of the observed baryon asymmetry. The supersymmetric particles such as sfermions and gauginos are predicted to be in the TeV region, while the gravitino is the LSP with mass of O(100)GeV and is a good candidate for dark matter. Interestingly, the cosmological moduli problem can be solved in the theory with the low cut-off scale.