The Flow network experienced downtime after an attack on December 27, disrupting the repayment function of the NFT lending protocol within Flow’s ecosystem and forcing multiple overdue loans into default. The Flow Foundation had previously suspended the Cadence execution environment until the morning of December 29.
Flowty reported that 11 loans were due during the outage, with eight defaults and two unsettled due to account restrictions. Although Flow has resumed online operations, core services such as token exchanges remain constrained, preventing borrowers from accessing the assets needed for repayment.
Flowty later suspended loan settlements starting December 30 at 14:15. During that window, overdue loans will neither be repaid nor defaulted.
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