Sui-Based DeFi Protocol Full Sail to Cease Operations

Full Sail, a DeFi protocol on the Sui network, announced it will gradually shut down following a security incident involving the Switchboard oracle. The breach affected the Virtue Money protocol, resulting in approximately $455,000 in losses and the liquidation of 45 users. Switchboard has not provided requested technical details or compensation commitments, and Mysten Labs declined a request for financial support. Full Sail plans to prioritize user compensation by distributing remaining protocol liquidity and covering the shortfall.