PANews reported on December 19 that in response to the previous news that "PeckShieldAlert detected that 918.83K CRV was liquidated at the Michael Egorov marked address (0x7a16...5428), worth about $882,700," Curve founder Michael Egorov responded that these CRVs were not real CRVs, but "certificates of Sifu's promise to repay funds" formed after the theft of the uwu hacker incident on June 10. He emphasized that these tokens were not backed by actual CRV.

Earlier today, it was reported that approximately $880,000 worth of CRV was liquidated from addresses associated with Michael Egorov.