Sui ecosystem DeFi protocol AlphaFi announces a gradual shutdown of operations. It has now entered maintenance mode, stopping new deposits and loans, while withdrawals remain open. Previously, some lending positions on AlphaLend that used ALPHA as collateral experienced severe undercollateralization, causing the protocol to incur bad debt. AlphaFi stated that it is working with the Sui Foundation to conduct an investigation, implement remediation, and pursue recovery of outstanding debts. AlphaFi reminds users to close positions and withdraw their assets. The lock-up periods for both the WAL and ALPHA treasuries have been lifted. Slush Strategies users can make withdrawals directly through the Slush Wallet. The team said it will continue handling the exit process until the last user has completed withdrawals, after which it will exit the Sui ecosystem.