AlphaFi Ceases Operations Following Oracle Error with Support from Sui Foundation
AlphaFi, a decentralized finance (DeFi) platform, has announced the cessation of its operations due to an oracle error. The platform has disabled new deposits and loans, prompting immediate action for its users.
In light of the situation, users of AlphaFi's Slush product have been instructed to exit four specific strategies and make immediate withdrawals. This decision comes as the platform seeks to address the complications arising from the oracle issue.
The Sui Foundation has stepped in to provide support during this transition, although specific details regarding the nature of this support have not been disclosed. The incident highlights ongoing challenges within the DeFi sector, particularly related to the reliability of oracle systems.
Source: KLEA News