Oracle Protocol Switchboard to Shut Down Operations, Full Service Cease on September 25

Oracle Protocol Switchboard has announced the termination of its operations, with all existing support services being discontinued as of September 25. Core development company Switchboard Technologies Labs stated that after reviewing all possible alternatives, it decided to wind down remaining business activities.

The platform recently faced a security vulnerability incident and experienced departures of other contributors and node operators, prompting the decision to immediately discontinue related services. Protocols currently using Switchboard are advised to migrate to alternative oracles such as Pyth and RedStone to avoid service disruption.

Switchboard had previously secured a $7.5 million Series A investment led by Tribe Capital and RockawayX in May 2024.