V2 #36
2026-04-13 21:26:35
The claimant had funds deposited in the ExtraFi Xlend USDC Morpho Vault on Base, which had unrealized bad debt from exposure to Resolv assets and no available liquidity. The claimant’s cover was active when the Resolv exploit occurred and liquidations failed to occur in the USR Morpho markets because a fixed-rate oracle was used to price USR and that oracle never updated the NAV value post-exploit. The Claims Committee determined this claim was valid per the Liquidation Failure provision in the Protocol Cover wording. While the debt is unrealized and reimbursements may be forthcoming, the Claims Committee agreed this claim should be paid and, if reimbursement is available in the future, the claimant can return the claim payment if they are provided with reimbursement per the terms in the Protocol Cover wording. With this understanding, the Claims Committee voted to approve this claim.
2026-04-02 15:16:35