Invictus Capital’s default on a $1 million BUSD loan is the second time in a month that a lender defaulted on an unsecured loan on the decentralized lending protocol. sndr_krisztian reports
TrueFi has not issued a “notice of default” to Invictus yet. Invictus borrowed $28.8 million and paid it back with interest on TrueFi through 2020 and 2021 before defaulting on its latest loan, according to TrueFi’s dashboard.
“Invictus’ default once again illustrates the fragility of trust-based uncollateralized lending,” Walter Teng, vice president of digital asset strategy at research group Fundstrat, told CoinDesk. This is the second uncollateralized loan to default on TrueFi within a month following Korea-based Blockwater’s
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