Aave

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Michael Egorov, the co-founder of Curve Finance, has completely settled his debt on Aave after depositing 68 million CRV, equivalent to approximately $35 million, to Silo. 
Egorov withdrew 10.7 million of crvUSD, Curve’s decentralized stablecoin, from the non-custodial lending protocol following his CRV deposit, according to on-chain analytics provider, Lookonchain. After that, he swapped them for USDT before repaying his debt on Aave, a decentralized lending and borrowing protocol on Ethereum.&nbsp; 
 You might also like: <a href="https://crypto.news/curve-finance-exploit-triggers-massive-mev-rewards/" rel="noopener noreferrer nofollow"> Curve Finance exploit triggers massive MEV rewards </a> 
Still, the Curve founder still owed approximately $42 million to four defi lenders, including Silo, Fraxlend, Inverse, and <a href="https://crypto.news/cream-finance-exploiter-moves-funds-from-2021-hack-again/" data-type="post" data-id="14117842" rel="noopener noreferrer nofollow">Cream Finance</a>, collateralized by 253.7 million CRV valued at $132 million. 
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 Michael Egorov deposited 68M <a href="https://twitter.com/search?q=%24CRV&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$CRV</a> ($35.5M) to <a href="https://twitter.com/hashtag/Silo?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Silo</a> and borrowed 10.77M <a href="https://twitter.com/search?q=%24crvUSD&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$crvUSD</a> in the past 2 days. Then swapped <a href="https://twitter.com/search?q=%24crvUSD&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$crvUSD</a> for <a href="https://twitter.com/search?q=%24USDT&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$USDT</a> and repaid the all debt on <a href="https://twitter.com/hashtag/Aave?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Aave</a>. He currently has 253.67M <a href="https://twitter.com/search?q=%24CRV&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$CRV</a>($132.52M) in collateral and $42.7M in debt on 4 platforms.<a href="https://t.co/stkFvDrlnv" target="_blank" rel="noopener noreferrer nofollow">https://t.co/stkFvDrlnv</a> <a href="https://t.co/oBQ4yiT9Xs" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/oBQ4yiT9Xs</a>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1706846422304534836?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">September 27, 2023</a> 
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Egorov’s Aave repayment comes nearly two months after CRV prices posted steep drops, threatening to liquidate his $80 million on-chain loan positions. 
The price crash came after Curve Finance suffered a re-entrancy attack in late July 2023. Hackers <a href="https://crypto.news/bsc-suffers-73k-vyper-attack-following-curve-finance-exploit/" rel="noopener noreferrer nofollow">exploited</a> a bug in a version of Vyper’s code which is used by Curve for the protocols’ stable swap exchange, stealing tens of millions worth of coins. 
 You might also like: <a href="https://crypto.news/anonymous-mev-bot-operator-refunds-70k-in-eth-from-curve-finance-attack/" rel="noopener noreferrer nofollow"> Anonymous MEV bot operator refunds $70k in ETH from Curve Finance attack </a> 
Maximal extractable value (MEV) bot operators <a href="https://crypto.news/curve-finance-exploit-triggers-massive-mev-rewards/" rel="noopener noreferrer nofollow">raked</a> in hundreds of Ether (ETH) during the ensuing on-chain tussle for block space and prioritized transactions. 
Shortly after the attack, Egorov struck multiple over-the-counter (OTC) agreements with a pool of investors, including market maker Wintermute and Tron co-founder, <a href="https://crypto.news/justin-sun-other-crypto-investors-buy-crv-token-in-attempt-to-help-curve-finance/" rel="noopener noreferrer nofollow">Justin Sun</a>, as he scrambled to raise funds. 
The co-founder eventually secured $46 million and transferred 106 million CRV to select buyers, effectively quelling what would later be known as the Curve Wars. 
 Read more: <a href="https://crypto.news/curve-finance-exploiter-returns-12-7-million-of-stolen-funds/" rel="noopener noreferrer nofollow"> Curve Finance exploiter returns $12.7 million of stolen funds </a>

Curve founder repays Aave loan, still owes $42m to defi lenders

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