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<ul class="news-points"> 
 <li><strong>Curve Finance founder faces mounting debt risks due to Fraxlend’s high APY.</strong></li> 
 <li><strong>Delphi Digital warns of potential liquidation threat of $100M loan backed by CRV.</strong></li> 
 <li><strong>CRV price is down nearly 20% over the week following a 10% decline in 24hrs.</strong></li> 
</ul> 
<p>Lookonchain, a renowned on-chain data resource, took to Twitter to highlight concerns regarding Michael Egorov, the founder of <a href="https://coinedition.com/curve-finance-losses-47-million-in-hack-crv-declines-by-13/" rel="noopener noreferrer nofollow">the recently exploited pool</a>, Curve Finance. Lookonchain noted that Egorov faces mounting debt issues from the high Annual Percentage Yield (APY) of over 140% on Fraxlend.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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  <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
   <p lang="en" dir="ltr">The <a href="https://twitter.com/hashtag/Curvefi?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Curvefi</a> founder is trying to pay off the debt on <a href="https://twitter.com/hashtag/Fraxlend?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Fraxlend</a> due to the high APY of +140%.<br><br>He transferred 10M <a href="https://twitter.com/search?q=%24CRV&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$CRV</a> ($5.9M) to a new wallet and received 5M <a href="https://twitter.com/search?q=%24USDT&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$USDT</a> from 4 addresses.<br><br>Is he selling <a href="https://twitter.com/search?q=%24CRV&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$CRV</a> by OTC deals?<a href="https://t.co/stkFvDrlnv" target="_blank" rel="noopener noreferrer nofollow">https://t.co/stkFvDrlnv</a> <a href="https://t.co/K2zANHpow6" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/K2zANHpow6</a></p>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1686271066459758592?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">August 1, 2023</a> 
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<p>According to Lookonchain’s tweet, the founder attempted to address the situation by transferring 10 million of the pool’s native token, CRV, equivalent to $5.9 million, to a new wallet. The founder received $5 million USDT from four different addresses. This transaction raises questions about the possibility of the founder selling …</p> 
<p>The post <a rel="noopener noreferrer nofollow" href="https://coinedition.com/exploited-curvefi-boss-faces-liquidation-threat-should-crv-crash-33/">Exploited CurveFi Boss Faces Liquidation Threat Should CRV Crash 33%</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinedition.com">Coin Edition</a>.</p>

Exploited CurveFi Boss Faces Liquidation Threat Should CRV Crash 33%

Coin Edition

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