Curve Finance pools were hacked earlier this week, threatening the stability of founder Michael Egorov's sizable ~$100m loan, secured by roughly half of the total circulating supply of $CRV. The $CRV token price dropped by 10% over 24 hours. If the price drops too far, Egorov risks liquidation of his assets. Egorov has staved off liquidations so far by making OTC deals with some of DeFi’s finest, but it doesn’t mean he’s out of the woods yet.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
Breaking Down the Curve Crisis
Curve Finance pools were hacked earlier this week, threatening the stability of founder Michael Egorov's sizable ~$100m loan, secured by roughly half of the total circulating supply of $CRV. The $CRV token price dropped by 10% over 24 hours. If the price drops too far, Egorov risks liquidation of his assets. Egorov has staved off liquidations so far by making OTC deals with some of DeFi’s finest, but it doesn’t mean he’s out of the woods yet.