Curve Founder's Liquidated Funds Moved to Binance

IconCryptoNewsTerminal Staff13 Jun, 2024

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Curve Founder's Liquidated Funds Moved to Binance

Curve founder Michael Egorov's wallet address was liquidated for 29.62 million CRV (roughly $7.55 million) within an hour after the liquidation of a loan position commenced. The funds were deposited into Binance following the liquidation. On-chain analyst ai_9684xtpa reported the incident via Twitter, noting that the liquidated address belonged to Egorov. Curve Finance is a decentralized exchange liquidity pool that allows users to trade crypto assets with low fees and slippage. The platform has grown in popularity due to its user-friendly interface and competitive rates. CRV is the native token of Curve Finance and is used to incentivize users to provide liquidity to the platform.

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