Full Sail Shuts Down After Oracle-Related Security Incident

Full Sail, a decentralized finance (DeFi) protocol on the Sui blockchain, has announced its decision to shut down after a security incident tied to its oracle provider Switchboard. The incident led to confirmed losses linked to automated vault activity, prompting Full Sail to disable new deposits and liquidity provider reward claims.

The protocol's winding-down plan includes immediate restrictions, transitioning regular pools into a withdrawal-only state after additional security checks. Full Sail prioritizes user compensation, stating it will use remaining protocol liquidity to cover any shortfall so depositors are repaid first.

Full Sail previously disclosed a suspected compromise investigation and later confirmed an attacker removed approximately $91,000 from three vaults. Switchboard halted its network on multiple chains while investigating potential compromises.