Insights for CurveFinance Event. This week, $CRV has garnered significant attention from the market due to recent events.
02 Aug 2023, 05:51
📰Insights for CurveFinance Event
This week, $CRV has garnered significant attention from the market due to recent events. The founder of Curve, Michael Egorov, had previously used $CRV as collateral in various lending protocols for liquidity, which was generally considered low-risk.
However, last weekend, certain individuals exploited a flaw in Vyper to attack multiple pools on Curve, resulting in the theft of nearly $50 million in funds. Consequently, the value of $CRV has experienced a substantial drop and is now approaching Michael Egorov's liquidation price on other lending platforms.
To mitigate the impact, Michael Egorov took action by repaying a portion of the loan and obtaining liquidity by selling $CRV through OTC channels. Despite these efforts, our research indicates that he still has approximately $90 million in outstanding loans to repay.
As this situation is ongoing, it is essential to remain vigilant and be aware of any associated risks.
Same news in other sources
102 Aug 2023, 05:51
📰Insights for CurveFinance Event
This week, $CRV has garnered significant attention from the market due to recent events. The founder of Curve, Michael Egorov, had previously used $CRV as collateral in various lending protocols for liquidity, which was generally considered low-risk.
However, last weekend, certain individuals exploited a flaw in Vyper to attack multiple pools on Curve, resulting in the theft of nearly $50 million in funds. Consequently, the value of $CRV has experienced a substantial drop and is now approaching Michael Egorov's liquidation price on other lending platforms.
To mitigate the impact, Michael Egorov took action by repaying a portion of the loan and obtaining liquidity by selling $CRV through OTC channels. Despite these efforts, our research indicates that he still has approximately $90 million in outstanding loans to repay.
As this situation is ongoing, it is essential to remain vigilant and be aware of any associated risks.
Insights for CurveFinance Event. This week, $CRV has garnered significant attention from the market due to recent events.
📰Insights for CurveFinance Event
This week, $CRV has garnered significant attention from the market due to recent events. The founder of Curve, Michael Egorov, had previously used $CRV as collateral in various lending protocols for liquidity, which was generally considered low-risk.
However, last weekend, certain individuals exploited a flaw in Vyper to attack multiple pools on Curve, resulting in the theft of nearly $50 million in funds. Consequently, the value of $CRV has experienced a substantial drop and is now approaching Michael Egorov's liquidation price on other lending platforms.
To mitigate the impact, Michael Egorov took action by repaying a portion of the loan and obtaining liquidity by selling $CRV through OTC channels. Despite these efforts, our research indicates that he still has approximately $90 million in outstanding loans to repay.
As this situation is ongoing, it is essential to remain vigilant and be aware of any associated risks.