According to CoinMeta, the SUI ecosystem’s DeFi protocol Alphafi has announced the initiation of a phased shutdown process. It has now entered maintenance mode and has ceased accepting new deposits and loans. Existing users are able to close their positions and withdraw their assets. In Alphalend, some loan positions that used Alpha as collateral experienced insufficient collateral, leading to bad debts. However, these bad debts have now been fully covered, and the protocol is capable of making repayments. Alphafi will cooperate with the SUI foundation to investigate and recover the outstanding debts. Once users have completed their withdrawals, they will be able to exit the SUI ecosystem.