Full Sail, a decentralized finance (DeFi) protocol operating on the Sui blockchain, has announced its shutdown after suffering a security breach. An attacker exploited vulnerabilities related to the oracle provider Switchboard, resulting in the theft of approximately $91,000 from three separate vaults.
According to CoinTelegraph, the incident exposed critical weaknesses in the integration with Switchboard, which ultimately forced Full Sail to cease operations. The breach highlights ongoing security challenges that DeFi projects face when relying on external oracle services to provide reliable data feeds.
For Japanese investors and market participants, this incident serves as a reminder to carefully assess the security frameworks of DeFi protocols, especially as Japan’s regulatory environment continues to evolve around blockchain and crypto asset safety.