stable coins
By Bruce Buterin
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Switchboard's Oracle Infrastructure at the Center. Switchboard, the oracle provider whose infrastructure sits underneath Full Sail's price feeds, was…
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Virtue's $455,000 Loss and VUSD Instability. The same Switchboard breach rippled out to Virtue, a stablecoin lending protocol operating on the…
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What This Means for Sui's DeFi Ecosystem. Full Sail was a real piece of Sui's DeFi infrastructure. Losing it matters.
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Full Sail is done. The decentralized finance protocol built on the Sui blockchain announced it's winding down after an attacker pulled roughly $91,000 from its vaults — a breach…
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The team broke the news on X on Tuesday. No soft landing, no pivot. Just a clean shutdown announcement paired with immediate damage control: new deposits disabled, liquidity…
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The attack wasn't isolated to Full Sail.
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Oracles are basically the connective tissue of DeFi. They pull real-world price data into on-chain protocols, and when that data feed gets compromised, everything downstream is…
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Three Full Sail vaults were hit. Total extracted: about $91,000. Not catastrophic by DeFi standards, but enough to end the protocol entirely.
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More context: Binance Launches Options Trading on 1,000 US Stocks for International Users
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Put together, the two protocols lost over $546,000 between them. That's a meaningful number for ecosystems that are still building liquidity and user trust.
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Full Sail's plan for user repayment is straightforward on paper: use whatever protocol-owned liquidity remains, cover any gap out of pocket, and get instructions out to users for…
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Full Sail was a real piece of Sui's DeFi infrastructure. Losing it matters. Sui has been positioning itself as a fast, developer-friendly chain, and incidents like this —…
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Switchboard's acknowledgment of the breach is at least a start. The oracle provider said it's actively investigating the vulnerabilities in its Move-based code and has paused…
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It's worth noting that Switchboard's pause across Aptos, Sui, IOTA, and Movement is a pretty significant operational decision. That's not a minor patch.
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Related: Kast Launches Business Platform Promising 8% Yield for 5,000 Companies
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