Full Sail to Wind Down After Switchboard Oracle Security Incident

Sui-based DeFi protocol Full Sail said it will gradually cease operations after being affected by a Switchboard oracle security incident. According to Odaily, the impacted protocol Virtue Money reported losses of about $455,000 and liquidations involving 45 users. Switchboard has issued a statement on the incident, but as of September 1 it had not provided the technical details Full Sail requested or committed to compensation. Mysten Labs also rejected Full Sail's request for financial support. Full Sail said remaining liquidity held by the protocol will be distributed to users first, and the team will cover any shortfall so community depositors are compensated before others.