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Sui DeFi protocol Full Sail will be suspended due to Switchboard incident

2026-09-03 00:46:02
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Full Sail protocol is closed due to security incidents and will compensate users

Full Sail, a decentralized finance (DeFi) protocol based on the Sui blockchain, plans to close. Previously, user assets were damaged due to a security incident in Oracle provider Switchboard.

Full Sail issued an announcement on Tuesday saying that the agreement is gradually closing and immediately stopping the collection of new deposits and liquidity provider (LP) rewards. After completing the final security check, the regular pool will switch to supporting only withdrawal mode. Full Sail said that prioritizing compensation to users is currently the top priority.

The decision stems from a security incident that occurred last week. The incident affected Full Sail's automated vault and was suspected to have been caused by a breach of Switchboard's oracle infrastructure.

Full Sail disclosed the incident for the first time on Saturday, saying it had confirmed the loss of funds and suspended deposits and withdrawals while it was investigating. Switchboard also said in an announcement that day that it was investigating possible breaches of its Move-based implementation and had suspended its networks on Aptos, Sui, IOTA and Movement.

Full Sail later said the attackers stole approximately $91,000 from its three vaults. Virtue, an IOTA-based stablecoin lending agreement, also reported losses of approximately $455,000 and said mortgage support for its VUSD stablecoin had been compromised.

Full Sail said it will use the remaining liquidity in the agreement to compensate users, and the team will make up for any differences to ensure community depositors receive priority payments. The agreement is expected to release withdrawal and claims guidance in the next few days.

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