Decentralized oracle Switchboard claims that its Move language-based network implementation may have been compromised. Contributors have coordinated with the ecosystem team and security agencies to suspend operations on Aptos, Sui, IOTA, and Movement. There are no similar reports for the Solana implementation, but it is still recommended to temporarily switch to other solutions during the investigation, with details to follow.

The blockchain itself continues to produce blocks, but the price feed has been halted. Lending, stablecoins, and derivatives relying on this feed need to switch to Pyth, RedStone, etc., or directly suspend liquidation. The Full Sail treasury on Sui has confirmed a loss of funds and frozen access; on IOTA, a protocol has been accused of minting approximately 4.94 million VUSD under abnormally high price feeds, triggering liquidation. Switchboard has not yet definitively linked these events to the root cause and has not released a technical review.

The Move ecosystem consists of four chains sharing the same oracle implementation, thus the shutdown is synchronized. The Solana stack is separate, serving as a control experiment: the same brand, different runtimes, unequal risks. When the oracle stops, collateral valuation and automatic liquidation become blind simultaneously, and applications can only continue to operate at incorrect prices or actively shut down.

The migration suggestion is to temporarily write competing oracles as backup feeds. Those who can change the feed within hours can still open for business; those who cannot are effectively exposing their treasury to outdated prices.

In market mechanics, the seller is the compromised oracle network, and the buyer is the Move ecosystem application that must immediately switch feeds. The event is driven by suspected key or implementation control. Funds are minted or withdrawn at incorrect price windows, while the rest is locked in the paused treasury. The beneficiaries are the easily switchable backup oracles; the ones under pressure are the depositors of single feed protocols and integrators that have written the four chains into the same security domain.

Source: Public Information