The Flow network downtime has caused defaults in NFT lending, and Flowty has suspended loan settlements

According to monitoring by Abdelaziz Fathi, the Flow network experienced downtime due to an attack on December 27, which led to the interruption of the Repayment function in the NFT lending protocol within the Flow ecosystem, forcing multiple overdue loans to default.

The Flow Foundation had previously suspended the Cadence execution environment until the morning of December 29. Flowty posted on the X platform that a total of 11 loans were due during the downtime, of which 8 directly defaulted, and another 2 could not be settled due to account restrictions. Although Flow has resumed online operations, core functions such as token exchanges remain limited, preventing borrowers from accessing the assets needed for repayment. Flowty has suspended the settlement of all loans since 14:15 on December 30, during which overdue loans will neither be repaid nor defaulted. The current price of Flow is approximately $0.086.