Not financial advice. This is history and education only. We make no buy or sell recommendations and no price predictions.
Crash · Mar 12, 2020
Black Thursday liquidations
Maker vaults are liquidated for zero bids.
No price shown: our sourced price data for Sky (formerly Maker) does not cover Mar 12, 2020.
During the March 12, 2020 crash, network congestion let some liquidation bots win collateral for zero DAI, leaving Maker with millions in bad debt that it covered by minting MKR.
Part of Sky (formerly Maker) in 2020 · full Sky (formerly Maker) timeline · Sky (formerly Maker) hub
Updated
Sources
Facts written in our own words. Last checked Oct 14, 2026.