Sui DeFi protocol Full Sail to wind down after $91K oracle exploit

Full Sail, a DeFi protocol on the Sui network, has announced it will cease operations following a security incident that removed roughly $91,000 from three of its vaults. The protocol linked the incident to an issue involving oracle provider Switchboard.

The project said the attacker exploited a vulnerability connected to Switchboard's oracle integration, leading to the loss of funds from three vaults. While the amount is relatively small compared to many DeFi hacks, the team determined that winding down was the appropriate course of action.

Oracle-related risks

This incident adds to a broader pattern of oracle-related exploits in decentralized finance, where manipulation of price feeds can cause significant losses. Full Sail stated that it will proceed with an orderly wind-down, advising users to watch official channels for further instructions.