Maple Finance denies the allegations made against it by the CORE Foundation, stating that it is actively pursuing legal action.

PANews reported on November 21 that Maple Finance responded to recent public accusations from the CORE Foundation regarding its BTC yield program and syrupBTC product. Maple vehemently denies CORE's allegations, stating they distort the facts. Maple claims that the BTC yield program operates under an independent entity, with assets segregated from the overall business. Due to the decline in the value of the CORE token, risk management measures have been initiated, with plans to sell CORE tokens in an orderly manner to protect lenders' principal. Although hedging mechanisms exist to protect lenders, the planned token sale has been prevented due to legal action initiated by CORE. Maple also emphasizes that syrupBTC is independently developed and does not use CORE's confidential information.

Legally, Maple is actively pursuing litigation to enforce the hedging agreement signed by CORE, stating that CORE's allegations are unsubstantiated and that the judgment it cited stemmed from a temporary application filed without prior notice to Maple. Furthermore, Maple will return 85% of the principal to lenders in its BTC yield program, with the remainder to be distributed after legal proceedings are resolved. This program is segregated from other products and will not affect other business operations. Further updates will be provided later.

Previously, it was reported that the Cayman Islands court granted the Core Foundation's request to issue an injunction against Maple Finance to stop its alleged breach of contract .