Alpha Homora issued the third open letter to Iron Bank, a lending platform on Ethereum, after Iron Bank froze Alpha Homora's loan account on March 1 due to bad debt disputes. Alpha Homora believed that confiscating users' funds was not a solution, and publicly proposed Bad debt resolution: 1. Iron Bank returns customer funds that are not on Ethereum; 2. Of the ~$41 million on Ethereum, Iron Bank will transfer ~$11 million to users. Approximately $11 million represents the net bad debt amount of user deposits, excluding accrued interest. 3. For the remaining ~$30 million, details on how to proceed will be shared with the community within 1 week after Iron Bank agrees to the above resolution. According to previous news from Foresight News, Iron Bank announced that as of March 2, Alpha Homora currently owes approximately US$32 million. Iron Bank requested Alpha Homora to add collateral within 3 days on February 14, but Alpha Homora did not action. As the price of the collateral ALPHA token continues to fall, Iron Bank requires Alpha Homora to repay the loan before 7:00 on March 6, Beijing time, otherwise its debt will be liquidated. If Alpha Homora repays the loan, Iron Bank will unlock its account And release the pledged tokens.