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IOTA 
SUI Full Sail is shut down due to a $91,000 vulnerability attack on the Sui blockchain
Full Sail, a decentralized finance (DeFi) protocol running on the Sui blockchain, announced plans to cease operations after encountering a major security breach related to oracle provider Switchboard. The incident caused significant losses to users and immediately triggered emergency measures from the Full Sail team.
Security Incident and Protocol Response
According to investigation, this vulnerability originated from an intrusion into Switchboard oracle infrastructure. Oracles like Switchboard are responsible for providing critical price and data information to the DeFi protocol to support its automation capabilities. Last week, Full Sail's automated vault was targeted after a suspected attack on the Switchboard oracle.
Full Sail made the incident public on Saturday and confirmed that it had verified the loss of user funds. The agreement quickly suspended all deposits and withdrawals, while a comprehensive investigation was launched to assess the extent and causes of the losses.
Switchboard also confirmed that it is investigating possible vulnerabilities in its Move-based oracle implementation and has suspended its network running on Aptos, Sui, IOTA and Movement as a precautionary measure.
Small Dictionary: Oracle providers (such as Switchboard) provide the latest external data (such as asset prices) to the DeFi protocol so that smart contracts can correctly execute and securely manage user assets.
User Compensation Plan
According to Full Sail's statement, the attack resulted in the withdrawal of approximately $91,000 from its three vaults. The agreement, announced on the X platform, will immediately disable the new deposit feature and prohibit liquidity providers (LPs) from receiving rewards. The regular fund pool will be converted to a withdrawal-only mode pending final security review.
Full Sail said it will give priority to compensating affected users. The team plans to use the remaining liquidity of the agreement to make up for losses and promises to repay community depositors first. Any remaining funding gap will be borne by the Full Sail team.
Full Sail reiterated its commitment to user protection, stating: "Repaying community depositors remains our top priority, and guidance on claims and withdrawals will be issued in the coming days."
Withdrawal and claims guidelines are expected to be released as soon as possible after the security review is completed.
Widespread impact on the DeFi field
The impact of this incident is not limited to Full Sail. Virtue, a stablecoin lending agreement built on IOTA, reported a separate loss of approximately $455,000 due to a vulnerability in Switchboard. Virtue also revealed that the incident damaged the collateral of its VUSD stablecoin.
Switchboard quickly suspended its network on multiple blockchains, including Sui and IOTA, reflecting growing concerns about security breaches in emerging DeFi infrastructure.
The related agreements and reported losses are as follows: Full Sail (Sui blockchain) lost US$91,000;Virtue (IOTA blockchain) lost US$455,000.
Recent events have highlighted the continuing challenges the DeFi protocol faces in managing third-party risks and maintaining secure end-user operations.
