According to BlockBeats, on June 14, the UwU Lend vulnerability incident triggered a series of events that led to the liquidation of millions of dollars in DeFi lending giant Curve. A representative of Curve founder Michael Egorov told CoinDesk via Telegram message on Friday. Egorov used Curve's CRV token to borrow $100 million in loans from various protocols. These loans began to be automatically liquidated on Thursday, causing the token to fall by as much as 30% before a brief recovery.
However, Egorov said that this situation could help strengthen Curve’s security measures and lending mechanisms, and could create better services for users in the coming months. He also said that he is committed to ensuring that all users can withdraw their deposits without any hassles, and always considers Curve Finance to be his top priority and most importantly their community.