Centrifuge tokenized loans are about to default, potentially putting MakerDAO's $1.84 million investment at risk

ChainCatcher news, according to CoinDesk, a post on the governance forum states that tokenized loans on the blockchain-based credit platform Centrifuge are about to default, putting MakerDAO's $1.84 million investment at risk of loss. The troubled credit pool underwriter ControlFreight warned on Friday that its largest borrower in a $2.7 million pool is facing liquidation due to legal disputes.

ConsolFreight stated in the post: "Hanhwa AUS Pty Ltd and Hanwha New Zealand Pty Ltd face a significant risk of total or partial loss of the amounts owed to us." The post explained that due to an intellectual property dispute, the Supreme Court of Australia has appointed a liquidator to wind up the company's activities, freezing all payments to the debtor. ControlFreight has minted $1.84 million in DAI from Maker to fund trade finance transactions and freight forwarding invoices.