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Fitzsup said..
I left it in the sun and water started bubbling from around the lifting part,of the pad
Most probably, you have a crack in the deck around the handle, and your board is filling up with water.
You should fix it at once (remove the pad, open the crack, let the foam blank dry, repair), otherwise your board is going to gain weight it will not be able to shed (... as for us all :-) ).
A pad can lift if left in the sun, as some glues can melt, but you will not see bubbles.