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Crypto Trader Auros Global Missed Principal Payment on a Loan of 2400 wETH

Cointime Official

M11 Credit on Twitter: "We would like to provide an update regarding Auros, who today missed the principal payment on a loan of 2400 wETH which triggered a 5-day grace period as per the smart contracts. Auros is experiencing a short-term liquidity issue as a result of the FTX insolvency. This does not mean the loan is in default. We are working with Auros, who have acted promptly and responsibly. M11 Credit is always in close contact with borrowers, especially during the events of last month. Auros has communicated in an open, professional manner, and we constantly evaluate their situation and collaborate with their team to come to a constructive agreement. Our top priority is to limit the risk for our lenders. We will continue our liaison with the Auros team in regard to all their open loans from our pools.  We remain committed to providing transparent updates whenever possible and are working with Auros to provide a joint statement that provides further information to lenders. If you have any questions, feel free to reach out at [email protected]"

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