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https://twitter.com/hodlKRYPTONITE/status/153690211554074214...
Basically, they're a large crypto fund that has borrowed from almost every major crypto lender, and if they can't cover their margin calls (which is expected if they're insolvent), the risk of the debt is then transferred to the lenders themselves.
"Dubbed TotalRecall—yes, after the 1990 sci-fi film—the tool can pull all the information that Recall saves into its main database on a Windows laptop. “The database is unencrypted. It’s all plain text,” Hagenah says."