2023-09-28
On September 27, 2023
Lookonchain reported that Curve Finance founder and CEO Michael Egorov paid off
all the debt on Aave.
Egorov deposited $68 million worth of
CRV to Silo Finance and borrowed $10.77 million worth of crvUSD. He then swapped
crvUSD for USDT and paid off all the debt on Aave.
He still has 253.7 million CRV ($132.52
million) in collateral and $42.7 million in debt on 4 DeFi platforms include:
1. 17.1 million crvUSD ($17.1 million) on Silo Finance.
2. 13.1 million FRAX ($13.1
million) on Fraxlend.
3. 10 million DOLA ($10 million)
on Inverse.
4. $2.5 million in USDC and USDT
debt on Cream.
In August 2023 Egorov sold 106 million CRV for $42 million to many
investors to reduce the risk of liquidation on his Aave loan.
TVL on Curve Finance
Curve Finance's TVL has decreased $1 billion after the platform got hacked on July 30, 2023. The hacker returned $61 million stolen funds
in exchange for 10% bounty from Curve.
TVL on Curve has decreased from $3.149
billion before the exploit happened to $1.95 billion. For CRV price it has
decreased from $0.7 to $0.5.
