loss of approximately $455,000, Sui ecosystem DeFi protocol Full Sail decides to gradually cease operations

Odaily Planet Daily reported that the Sui ecosystem DeFi protocol Full Sail stated that its protocol was affected by the Switchboard oracle security incident and has decided to gradually cease operations. Affected protocols include Virtue Money, which reported a loss of approximately $455,000, with 45 users being liquidated. Switchboard has issued a statement regarding the incident, but as of September 1, it has not yet provided the technical details requested by Full Sail, nor has it committed to compensation. Mysten Labs rejected Full Sail's request for financial support. Full Sail stated that all remaining protocol-owned liquidity will be prioritized for distribution to users, with the team covering the shortfall to ensure community depositors receive compensation first.