Due to the Flow Attack Incident, Loan Settlements on Flowty Platform Have Been Suspended

比推Published on 2025-12-31Last updated on 2025-12-31

Abstract

Due to the Flow blockchain attack on December 27, NFT-backed loans within the ecosystem have entered a "legal vacuum." The temporary suspension of the network’s execution environment prevented multiple borrowers from making timely repayments, resulting in defaults. Lending platform Flowty has paused all loan settlements, citing that the network has not yet fully recovered—for instance, token exchanges remain restricted. Currently, matured loans are neither being settled nor marked as defaults, leaving them in a pending state. This measure aims to prevent forced defaults caused by network instability and protect users' NFT assets. Flowty has disabled new loan offerings and plans to reopen repayment windows once ecosystem stability is restored.

Bitpush News: Due to the attack on the Flow blockchain on December 27, NFT-collateralized loans within the ecosystem have fallen into a "legal vacuum." As the network execution environment was temporarily suspended, multiple borrowers were unable to make timely repayments, resulting in defaults. The lending platform Flowty stated that, due to the network not yet fully recovering (e.g., restrictions on token exchanges), it suspended all loan settlements yesterday. Currently, matured loans are neither being settled nor considered in default, remaining in a "pending" state. This measure aims to prevent forced defaults caused by network issues and protect users' NFT assets. Flowty has currently disabled new loan functions and will open repayment windows based on the ecosystem's stability in the future.

Original link:https://www.bitpush.news/articles/7599490

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3.3k Total ViewsPublished 2024.03.29Updated 2026.06.02

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