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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.
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