The crisis of CRV began to emerge as early as 2 months ago, when Michael's loan position had fallen below the liquidation threshold, but Michael was not liquidated at that time, and Michael did not take any remedial actions.

On April 14, as the market fell, the price of CRV was also affected and fell to $0.42, and the loan position of Curve founder Michael Egorov entered the red line again. According to Ember's monitoring, Michael pledged a total of 371 million CRVs on 6 lending platforms through 5 addresses and lent out $92.54 million in stablecoins. Among the 12 debts, the silo loan position is the most dangerous.