TechFlow News — Investment firm Orthogonal Trading has defaulted on eight loans across the crypto lending protocol Maple Finance, totaling $36 million, approximately 30% of Maple Finance's active loan book.
The defaulted loans originated from the M11 USDC pool (approximately $31 million) and the M11 WETH pool ($5 million), both operated by M11 Credit. Other lending liquidity pools remain unaffected. Maple Finance has revoked Orthogonal Trading’s borrowing privileges and expects to recover $2.5 million to mitigate losses. M11 Credit is considering legal action against Orthogonal Trading to reclaim the outstanding loans. Orthogonal Trading did not respond to requests for comment.Original link
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