Maven 11
At Maven 11, a crypto-native hedge fund, the lending department, M11 Credit, faced a significant challenge when it incurred losses due to Orthogonal Trading's undisclosed high exposure to the FTX exchange. This exposure led to Orthogonal Trading's default on a $36 million debt on Maple Finance, as well as misrepresentation of its financial situation to M11 Credit's pool, ultimately resulting in substantial losses for the investors in the affected M11 pools.
To address this issue and prevent similar incidents in the future, Melchior Analytics developed a system for Maven 11 that enhances the monitoring and risk management of crypto lending activities. This system identifies crypto addresses associated with specific entities and performs real-time monitoring for anomalies.
