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Curve founder responds to liquidation: Unless UwULend buys CRV and repays bad debts, liquidators will not be able to withdraw CRV

2024-07-25 13:59
Odaily News Regarding the issue that "2.67 million CRVs of Curve founder Michael Egorov's address have been liquidated on UwULend", Egorov himself responded on X that since UwULend had been hacked before, there is currently no CRV in the UwULend protocol to support uCRV (UwULend's CRV deposit certificate token). Although the liquidator obtained uCRV through liquidation, the liquidator can only withdraw CRV from the protocol after UwULend purchases CRV and repays bad debts, so that Egorov can also withdraw the rest of the deposit. Egorov added that the current situation is that no one can withdraw funds from the hacked platform (UwULend) before the hacked platform (UwULend) repurchases the funds (CRV, etc.).