This is the second uncollateralized loan to default on TrueFi within a month following Korea-based Blockwater’s failure to repay its $3 million debt on the platform. Another decentralized lending protocol, Maple Finance, faced difficulties in June after Babel Finance, a crypto lending firm, became insolvent and defaulted on a $10 million loan. The default resulted in a $7.9 million loss to investors. Maple decided to tighten its lending standards, Bloomberg reported last month.
Source: https://www.coindesk.com/markets/2022/11/01/terra-victim-invictus-capital-defaults-on-1m-truefi-loan/?utm_medium=referral&utm_source=rss&utm_campaign=headlines