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Decentralized finance (DeFi) unsecured loan protocol TrueFi is trying to claw back funds from its debtors and recently issued a default notice to Blockwater.
On Oct. 10, the DeFi lending firm announced that it had issued a notice of default to Korea-based Blockwater Technologies for missing a payment on a large stablecoin loan.
Blockwater, a crypto and blockchain investment firm, has become the latest victim of the crypto contagion that has already swallowed up the likes of Voyager Digital, Celsius, and Three Arrows Capital this year.
According to the notice, Blockwater has failed to make its latest payment on a loan of $3.42 million in Binance USD (BUSD).
TrueFi $BUSD Pool Update:
TrueFi issued a notice of default to Blockwater for non-payment on its $3.4m restructured loan
NWH/Invictus entered a Cayman voluntary liquidation proceeding and may not repay its $1.0m loan due 10/30
Bastion has repaid its $10m loan due 10/4 in
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