AlphaFi is winding down its decentralized finance (DeFi) operations on the Sui blockchain due to severe undercollateralization in some AlphaLend positions backed by ALPHA tokens, which caused bad debt for the protocol. The platform has stopped new deposits and borrowing but still allows withdrawals as it processes user exits. AlphaFi is collaborating with the Sui Foundation to investigate the issue and recover outstanding debt. Users are urged to close positions and withdraw assets, with lockup periods for certain vaults canceled. AlphaFi will continue withdrawals until all users exit, then plans to leave the Sui ecosystem, with no specified end date yet.
AlphaFi's winding down of its Sui DeFi operations is presented here with Pluang's market data as of Sep 26, 2026 07:21 WIB: out of 50 major cryptocurrencies, 44 rose and 5 fell today. Notable moves include SXP (Solar) down 46.27% at Rp37 with a typical hold time of 94 days, AXS (Axie Infinity) up 11.80% at Rp21,616 with 30% sell and 70% buy order activity and a typical hold time of 62 days, and BAL (Balancer) up 11.14% at Rp16,297 with a typical hold time of 85 days. The largest one-day change was SXP's 46.27% drop.
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