Emergency repairs will need to be carried out at Levenmouth Pool.
The pool was closed after swimmers were evacuated on Sunday (24 March).
A steel cable is reported to have snapped near the flumes.
In a Facebook post, it was confirmed the pool will be shut until further notice, but other activity areas are open.
Grant Stevenson, Area Leisure Manager, said: "Our customers' and colleagues' safety and security are paramount to us, and we are dedicated to consistently maintaining the highest standards of safety.
"Immediately after we were alerted to the incident, management swiftly evacuated the flume and swimming pool.
"All customers visiting our venue were fully cooperative with the team as we quickly responded, and we would like to thank them for their understanding.
"We can confirm that full refunds were delivered to all customers visiting our swimming pool during the incident, and we apologise to anyone impacted by this."
Fife Sports and Leisure Trust says it understands the inconvenience this closure may cause its customers and apologises for any disruption to their plans.
It has reassured visitors that the venue remains open, and customers can continue attending classes, visiting the gym, and using the health suite and changing village.
The Trust says it is working to address the situation swiftly and reopen the flume and swimming pool as soon as it is considered safe to do so.
All other venues operated by Fife Sports and Leisure Trust remain unaffected.
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