Crypto market maker Auros has defaulted on a $7.5 million loan it received from crypto lending platform Maple Finance.
The harsh winter in the crypto market has made it difficult for many projects to move forward. Recently, bankruptcy and liquidity problems have become very common. In particular, the bankruptcy of FTX involved hundreds of crypto companies in painful processes. In the developing and adopted crypto industry, the reflections of crypto projects draw attention. One of them, crypto market maker Auros, filed for bankruptcy protection the other day. Immediately after this application, the company defaulted on the loan it received from Maple Finance.
Auros Defaults on Credit Withdrawn from Maple Finance Platform
Crypto market maker Auros has defaulted on a $7.5 million loan it pulled from its unsecured lending platform. The company could not make the regular payment of this loan.
In addition, Auros failed to make the required payments of an $18 million debt in Maple Finance’s different-based loans. The market maker had missed its repayments after borrowing $10.8 million.
Auros is not the first company to default on a loan from Maple Finance. In addition, Orthogonal Trading could not pay the loan it took. Crypto organizations attribute these missed credit obligations to FTX events.