Curve founder Michael Egorov was liquidated for 918.83K CRV ($882,000) due to a more than 12% drop in CRV over the past 24 hours. Egorov, head of the DeFi lending platform, experienced multiple massive liquidations earlier in 2024 when he took out loans to buy CRV and support its price. A total of $140 million was liquidated in June.
Egorov stated that the liquidated CRV was linked to the uWu hack in June and was a “receipt of Sifu’s [uWu’s founder] promise to repay the hacked funds.” Despite this, CRV continued to underperform against the CoinDesk 20 Index, which fell by 4.81% compared to CRV’s decline of 12%. Curve’s total value locked (TVL) decreased from $3.5 billion on Dec.
16 to $3.25 billion on Thursday, though much of this can be attributed to falling asset prices.
Source
