Full Sail Sinks After $91k Hack Forces Protocol Shutdown

Full Sail, a decentralized exchange on Sui (SUI), is shutting down after an attacker drained $91,000 from three of its vaults on August 29. The team made the decision to wind down the protocol, citing security concerns as the primary reason.

The attack exploited Switchboard production code that governs oracle price updates. The attacker added a key they controlled to a live oracle, allowing them to push prices down by nearly 100 times below market value and deposit funds into affected vaults.

Full Sail paused deposits and withdrawals after confirming the incident on August 29 and has since returned what was lost to affected users. The team will absorb the shortfall, compensating community depositors first. A detailed incident report is promised, as well as a reflection on what led to the decision to wind down.

This marks the latest in a string of security failures that have led to the closure of several crypto projects in 2026, including Summer.fi, Radiant Capital, Step Finance, and SolanaFloor. In total, 204 crypto projects have shut down or gone dark this year, according to RootData.