Odaily Planet Daily News: A representative of Curve founder Michael Egorov said via Telegram message on Friday that a vulnerability in UwU Lend on Monday triggered a series of events that led to a large number of liquidations on Curve on Thursday. Egorov's $100 million loan from various protocols using Curve's CRV token as collateral began to be automatically liquidated on Thursday, causing the token to fall 30% before a brief recovery. Egorov said: "On April 15, they (UwU Lend) deployed vulnerable code for new (sUSDe) markets, which are not isolated, so the entire platform is at risk. UwU was hacked, and as part of the cash-out activity, the hacker deposited the CRV stolen from UwU into lending.curve.fi (LlamaLend), and then disappeared with the funds, leaving the debt in the system." UwU Lend lost $20 million after a flash loan attack on Monday, and another $3.7 million in another attack on Thursday. As of Friday, the official reward was $5 million to find the attacker. In an X post, Egorov estimated that the bad debt in a specific CRV lending pool was $10 million (93% has been repaid). Although this market is completely isolated from other lending pools, CRV depositors cannot withdraw their funds as long as the bad debt exists. However, Egorov said that this situation may help strengthen Curve's security measures and lending mechanisms, and may provide better services to users in the coming months. He said: "On the day of the liquidation, the system was tested under unimaginable conditions. We had a lot of things to deal with, but the most important thing was that we had all the information on how to make the safest and most resilient lending/borrowing ever." Egorov added: "I am committed to ensuring that all users can withdraw their deposits without hassle. I have always considered Curve Finance to be my top priority, and the most important thing is our community." (CoinDesk)