Switchboard, a multi-chain oracle protocol, halted operations on Aptos, Sui, IOTA and Movement after discovering a potential security compromise. On IOTA, an attacker exploited a compromised oracle key to manipulate the token price to $10 million and mint approximately 4.94 million VUSD through the Virtue CDP protocol, triggering liquidations for 45 users and freezing exchange addresses. Switchboard’s Solana deployment was not affected due to different code architecture. DeFi protocols relying solely on Switchboard for price feeds can no longer process liquidations or execute any price-dependent functions. Switchboard is actively collaborating with security agencies to investigate the breach.
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