The recent UwU Lend hack and misinformation about Curve Finance (CRV) have caused confusion in the cryptocurrency community. Curve CEO Michael Egorov has clarified the situation, explaining that the hack did not exploit Curve Finance itself, but rather a separate project, UwU Lend.

Egorov explained that the hacker used the stolen CRV tokens to deposit funds into LlamaLend, leaving behind a debt in the system. He emphasized the importance of proper security measures, recommending that UwU Lend re-verify their contracts and connect with reputable security auditors to recover losses.

Regarding the false announcement of burning 10% of CRV tokens, Egorov revealed that a fake account tweeted the misinformation, which was then reported by some journalists without fact-checking. He reassured that no such burn occurred.

Egorov also announced that he had fully repaid the $10 million in bad debt resulting from the UwU exploit, ensuring that no one was affected. When asked about managing liquidation risks, he suggested implementing borrow caps and providing education on liquidations. He also proposed creating open-source liquidation bots to address broader decentralized finance implications.

In conclusion, Curve CEO Michael Egorov has clarified the UwU Lend hack and CRV burn misinformation, emphasizing the importance of security measures and proper fact-checking. By addressing these issues, Curve Finance aims to maintain stability and trust in the cryptocurrency community.