The attack on the Flow blockchain on December 27th has created a legal vacuum for NFT-secured loans within its ecosystem. Due to a temporary halt in network execution, many borrowers defaulted on their loans due to their inability to repay on time. The lending platform Flowty stated that because the network has not yet fully recovered (e.g., token exchanges are restricted), it suspended all loan settlements yesterday. Currently, overdue loans are neither settled nor considered defaults, remaining in a state of "pending resolution." This measure aims to prevent forced defaults caused by network failures and protect users' NFT assets. Flowty has currently disabled new loan issuance and will reopen repayment windows based on ecosystem stability.
Due to the Flow attack, loan settlement on the Flowty platform has been suspended.
This article is machine translated
Show original
Sector:
Source
Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
Like
Add to Favorites
Comments
Share
Relevant content
