Multiple users on social media claimed they had been liquidated after a Pac Finance admin wallet allegedly changed the parameters for ezETH loans without warning.
Pac Finance is a crypto lending app that runs on Blast network. It allows crypto holders to deposit funds and earn interest by lending their capital. To ensure repayment, the app only allows borrowers to take out loans equal to a percentage value of their collateral. This percentage is called the “loan-to-value ratio” . The LTV can be changed by the development team, but this is usually only done after an announcement is made.
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