Maple Finance denies CORE Foundation allegations, says it has initiated legal action and will first return 85% of Bitcoin plan principal

Techub News: Maple Finance responded to recent public allegations made by the CORE Foundation regarding its "Bitcoin Yield Program" and "syrupBTC," stating that the related claims "misrepresent the facts." It clarified that the Bitcoin Yield Program is operated by an independent entity and is isolated from the company's overall business assets. It also noted that due to the decline in the price of CORE tokens, risk control measures have been initiated. The original plan was to orderly sell CORE tokens to preserve lenders' principal, but due to legal actions initiated by CORE, the sale did not proceed as planned. Maple emphasized that syrupBTC was independently developed and did not use any confidential information from CORE.

Maple Finance stated that it has begun legal proceedings to seek enforcement of the hedge agreement previously signed by CORE. It also pointed out that the ruling cited by CORE came from an ex parte application made "without notifying Maple," and the related allegations have not been substantiated. The company will first return 85% of the principal to lenders in the Bitcoin Yield Program, with the remainder to be distributed after legal proceedings are clarified. The program is isolated from other products and does not affect the company's remaining business.