0VIX has exposed a fundamental flaw shared by major DeFi lending markets in their latest research. Find out more: - cc: OracleSummit defi liquidation
v2, a lending platform on Ethereum, incurred bad debt resulting from a major liquidation event involving a single user who had borrowed close to $40M worth of CRV tokens.
withstood the exploit, and the hacker was left with nearly $10m in losses. But, the protocol was left. with almost $2m in bad debt – debt that cannot be recovered.
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