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This is the second uncollateralized loan to default on TrueFi within a month following Korea-based Blockwater’s failure to repay its $3 million debt on the platform. Another decentralized lending protocol, Maple Finance, faced difficulties in June after Babel Finance, a crypto lending firm, became insolvent and defaulted on a $10
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On Monday, the Polygon-based decentralized exchange (dex) Quickswap lost $220K in a flash loan exploit and following the attack, the team detailed the Quickswap Lend platform will be terminated. Quickswap Hacked for $220K, Dex Project Sunsets Lending Platform 2022 has been quite the year for decentralized finance (defi) hacks as billions have
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When Wintermute, a cryptocurrency market maker, lost $160 million due to a hack, concerns related to the repayment of debt worth $189.4 million surfaced. However, in an exciting turn of events, Wintermute paid back its largest debt due Oct. 15, involving a $92 million Tether (USDT) loan issued by TrueFi.After
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TrueFi does not expect Blockwater Technologies' default to affect its
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The South Korea-based crypto investment firm failed to make a payment on a $3.4 million loan to TrueFi, a decentralized lending protocol. Original Source
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I ruminated on this project for months before starting and I quickly realized that not only is the stigma behind having student loan debt building on a principal shame of not having enough money to support one's self during college, but there's also added shame in disclosing just how much
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Alameda owes Voyager approximately $200 million in an outstanding crypto loan, from a line of credit that was worth $377 million before the market downturn. Source
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Avalanche-based lending protocol Nereus Finance has been the victim of a crafty hack that saw a user net $371,000 worth of USD Coin (USDC) using a smart contract exploit.Blockchain cybersecurity firm CertiK was one of the first to detect the exploit on Sept. 6, indicating that the attack impacted liquidity
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BendDAO – from a distance – looks like an old-school bank: Some customers deposit money into the decentralized finance (DeFi) platform, which loans the money out, giving depositors a cut of the interest payments. Those loans are backed by collateral but with a crypto-quirk: that collateral is pictures of monkeys,
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Already, Solend’s 21 whitelisted lending pools supply Solana’s DeFi markets with $471 million in borrowable tokens such as SOL, USDC and wrapped assets like BTC. Its team vetted those permissioned pools to weed out the inevitable scammers; if something goes wrong, Solend’s treasury insurance fund will back up platform users. Original
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