coin-img-LIGHTERLIGHTER-11.96%coin-img-ASTERASTER+0.43%coin-img-ETHETH+0.15%coin-img-AAVEAAVE-2.58%coin-img-BTCBTC-0.89%coin-img-UCNUCN+0.50%coin-img-SOLSOL-0.50%coin-img-USDCUSDC+0.04%coin-img-LIGHTERLIGHTER-11.96%coin-img-ASTERASTER+0.43%coin-img-ETHETH+0.15%coin-img-AAVEAAVE-2.58%coin-img-BTCBTC-0.89%coin-img-UCNUCN+0.50%coin-img-SOLSOL-0.50%coin-img-USDCUSDC+0.04%coin-img-LIGHTERLIGHTER-11.96%coin-img-ASTERASTER+0.43%coin-img-ETHETH+0.15%coin-img-AAVEAAVE-2.58%coin-img-BTCBTC-0.89%coin-img-UCNUCN+0.50%coin-img-SOLSOL-0.50%coin-img-USDCUSDC+0.04%coin-img-LIGHTERLIGHTER-11.96%coin-img-ASTERASTER+0.43%coin-img-ETHETH+0.15%coin-img-AAVEAAVE-2.58%coin-img-BTCBTC-0.89%coin-img-UCNUCN+0.50%coin-img-SOLSOL-0.50%coin-img-USDCUSDC+0.04%
user-avatar
Kyle Baird

Flow exploit freezes NFT-backed loan settlements as network pause disrupts repayments

Following a Dec. 27 exploit on the Flow blockchain, loan settlements on NFT lending platform Flowty were halted after the Cadence execution environment was paused until the morning of Dec. 29. Flowty reported 11 loans maturing during the outage, with multiple defaults and two unsettled positions, and has since stopped all settlements while keeping affected loans outstanding. The FLOW token price fell sharply after the incident and continued to decline to $0.086 as ecosystem functionality, including token swaps, remains impaired.
FLOW
FLOW-3.37%
Disclaimer: The content above is only the author's opinion and does not represent BingX’s stance. It shall not be construed as investment advice from BingX. For details, refer to the Terms and Conditions.
DEXNFT