Full Sail to Shut Down Following Security Breach
- Full Sail, a DeFi protocol on the Sui blockchain, is winding down operations after a security incident.
- The protocol confirmed losses of approximately $91,000 due to an attack on its automated vaults.
- Switchboard, the oracle provider involved, reported a potential compromise affecting multiple networks including Aptos and IOTA.
- Full Sail plans to disable new deposits and LP reward claims while transitioning pools to withdrawal-only mode.
- The team aims to compensate affected users using remaining protocol-owned liquidity and will cover any shortfalls.
This shutdown follows a significant security breach that resulted in user losses and has prompted Full Sail to prioritize compensation for its community depositors. The protocol expects to release further instructions for withdrawals soon.
With around $91,000 lost from its vaults, Full Sail’s decision reflects the ongoing challenges faced by DeFi protocols in maintaining security amidst increasing threats.(Source)
