Pac Finance users complained of unfair liquidations after an admin wallet suddenly changed collateral rules.
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.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Nuyorican Poets Cafe, an East Village icon, begins a $24M makeoverNuyorican Poets Cafe, an East Village icon, begins a $24M makeover
Read more »
Solana (SOL) Makes a Comeback: $24M Inflows Signal Positive MomentumCrypto Blog
Read more »
LA council approves $24M settlement in LAPD shooting that killed man at Canoga Park homeIn 2017, two police officers fatally shot 32-year-old Navy veteran Jesse Murillo, who held a metal bar that the officers mistook for a machete.
Read more »
Lido staked SOL holders fret as $24M remains stuck on ‘broken’ contractLido-staked Solana holders have been unable to retrieve their staked SOL due to an issue with a withdrawal smart contract.
Read more »
Cal takes on Stanford in Pac-12 TournamentThe California Golden Bears play the Stanford Cardinal in the Pac-12 Tournament. Wednesday's meeting will be the third of the season between the two teams. Cal is 9-11 against the Pac-12, and Stanford is 8-12 against the Pac-12.
Read more »
UCLA Bruins take on the Oregon State Beavers in Pac-12 TournamentThe UCLA Bruins and Oregon State Beavers square off in the Pac-12 Tournament. Wednesday's game will be the third meeting of the season between the two teams. The Bruins won the previous matchup 71-63. UCLA is 10-10 against the Pac-12, and Oregon State is 5-15 against the Pac-12.
Read more »