Crypto Gets Reminder of DeFi Risks From Latest Loan Default
- TrueFi says Korea’s Blockwater defaults on $3.4 million loan
- Crypto rout has roiled the decentralized finance industry
This article is for subscribers only.
A lending service in the cryptocurrency sector said a debtor had defaulted on a $3.4 million loan, a development that highlights the potential for ongoing stress in the digital-asset marketplace.
Decentralized lending protocol TrueFi said in a blog post Monday that South Korea’s Blockwater Technologies had missed a payment due in stablecoin Binance USD. Blockwater couldn’t immediately be reached for comment.