Curve Liquidations June 12-13th 2024

Michael Egorov (founder of Curve) is under fire again because his CRV stack on various DeFI platforms was liquidated.

ArkhamIntel reported he had $141M worth of CRV (371M tokens) landed across DeFI platforms, with 95.7M of stablecoins borrowed.

Image

The borrow rates on his loans were incredibly high (in some cases 60+%).

Image

The liquidations eventually began as his HF went under 1, and the price fell 56%

Leave your comment...

Hmm it’s quiet here. Be the first to comment on this post!