"Curve Finance CEO Michael Egorov spoke out about the recent UwU Lend hack, asserting that the incident did not leverage Curve Finance. Egorov recommended that UwU Lend re-examine all contracts and connect them to other good security auditor to hopefully cover the damage.#cryptonews🚀

Regarding false information about burning 10% of CRV tokens, Egorov asserted: "This information was tweeted by a fake account, accompanied by a fraudulent link. Some journalists did not check the facts and posted believe about this."

Egorov also announced that he has completely paid back $10 million in bad debt due to soft liquidations triggered by the UwU leverage.

To manage liquidation risk in volatile markets, Egorov suggests creating an "open source liquidation bot" and educating the community about liquidation."

What do you think about this incident? Please leave your opinion in the comments section!