AlphaFi is winding down its AlphaLend lending protocol after a misconfiguration in the ALPHA oracle caused some loans to become undercollateralized, creating bad debt. The Sui Foundation intervened by covering the full shortfall, keeping AlphaFi solvent and protecting user funds. Withdrawals remain open, but new deposits and loans are paused as users are asked to unwind positions. The shutdown also affects AlphaFi's Slush strategies, with withdrawal lock periods removed for immediate access. The Sui Foundation and AlphaFi will continue cooperating on investigation and remediation until the protocol fully exits the Sui ecosystem.
AlphaFi's lending protocol shutdown follows a significant intervention by the Sui Foundation to cover bad debt. For readers following cryptocurrency markets, here is Pluang's market snapshot as of Sep 26, 2026 16:01 WIB: out of 50 major cryptocurrencies, 35 rose and 14 fell. Notable movers include EOS at Rp12.649 with an 8.13% increase, AAVE at Rp2.773.906 with a 6.61% rise and a buy order activity of 73%, and GRT at Rp503 with a 6.27% gain but predominantly sell orders at 97%.
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