Researcher 0xLoki posted an article on X platform regarding the Pac Finance liquidation event, stating that the address (0x4883094b78a6ea2A4AED28B864156276D2ACdb3d) has completed 93% of the liquidation and gained approximately 244 ETH in net profit. The funds were transferred in and out through bridging, and there were no other interaction behaviors except for deploying the liquidation robot. In response, SlowMist founder Yu Xian stated that the address has been marked as a high-risk address on the MistTrack platform. Previously, Pac Finance replied on X regarding the "24 million US dollars liquidated due to protocol LTV parameter modification" incident, stating: "We have noticed this issue and are actively contacting affected users to develop a plan to resolve the issue. While we were adjusting the loan-to-value ratio (LTV), we assigned a smart contract engineer to make the necessary modifications. However, we found that the liquidation threshold was unexpectedly changed without prior notice to our team, resulting in the current problem. In the future, we will set up a governance contract or time lock to ensure that all future upgrades can be discussed in advance."

According to Cointelegraph, users of Pac Finance, a Blast network cryptocurrency lending application, reportedly suffered a liquidation of $24 million on April 11 due to a sudden change in parameters in the developer's wallet. The official Discord administrator claimed they have informed the team about the issue. The official announcement regarding this matter has not yet been released. Pac Finance allows cryptocurrency holders to deposit funds and earn interest through lending capital. To ensure repayment, the application only allows borrowers to lend a certain percentage of the collateral value, known as the "loan-to-value ratio" (LTV). LTV can be changed by the development team, but is typically only implemented after an announcement. According to blockchain data from the Blast network, on April 11 at 1:06 AM UTC, the Pac Finance developer's wallet called a function on its PoolConfigurator-Proxy contract, setting the LTV for ezETH to 60%.

Blast ecosystem DeFi and lending platform Pac Finance announced the completion of a new round of financing, with participation from Manifold, DeGods development team @XDeGods, and others. The specific amount has not been disclosed. Pac Finance is the first hybrid lending protocol on the Blast chain, supporting native yield, gas return, etc. There are reports that the project may distribute airdrops to DeGods NFT holders, but relevant details have not been disclosed as of yet.