Odaily News: Affected by a hacker attack, the CRV price has dropped, and the downward trend of the CRV price has put Curve founder Michael Egorov's $70 million loan position on Aave at risk of liquidation. In light of this, Egorov is selling CRV through OTC to raise funds to repay the loan.



Although the terms of the transactions have not been formally disclosed, several individuals who claim to have been in contact with Egorov have publicly stated that the selling price of these tokens is $0.40 per CRV (much lower than the market price at the time), with a lock-up period of 6 months. However, the lock-up does not seem to be enforced through legal or smart contracts. In a statement, Egorov mentioned that buyers who violate the cooperation agreement will not be held accountable, but he "expects them to" abide by the 6-month lock-up commitment.



Observers have noticed that some participants have transferred their tokens to centralized exchanges, which typically indicates their intention to sell. DWF Labs transferred 2 million CRV to Binance, but a spokesperson for DWF Labs stated that this was "not for the purpose of immediate selling but for trading needs, as liquidation at this time is not advisable. Once the plan is completed, we will withdraw the CRV back to the chain."



Furthermore, Egorov also stated that some projects have fulfilled the 6-month lock-up commitment indirectly through voting mechanisms for holding CRV. (Blockworks)



According to market data, CRV is currently priced at $0.47 USDT, with a 7-day decline of 15.2%.