Odaily Planet News: According to monitoring by Abdelaziz Fathi, the Flow network went offline after an attack on December 27, causing the repayment function of the NFT lending protocol within the Flow ecosystem to fail, and forcing multiple overdue loans into default. Previously, the Flow Foundation had suspended the Cadence execution environment until the morning of December 29.
Flowty posted on the X platform stating that a total of 11 loans matured during the outage, with 8 of them directly defaulting and 2 others failing to settle due to account restrictions. Although Flow has resumed online operations, core functions such as token exchanges remain restricted, preventing borrowers from accessing the assets needed to repay their loans. Flowty has paused all loan settlements since 14:15 on December 30. Loans that mature during this period will neither be repaid nor considered in default. Currently, the price of Flow is approximately $0.086.