PAC FINANCE users suffer a $24 million liquidation due to unannounced parameter changes by the developer.

PAC FINANCE users suffered a liquidation of $24 million without prior warning due to a developer's modification of the EZETH loan parameters. PAC FINANCE is a cryptocurrency lending application on the BLAST network that allows users to deposit and borrow capital to earn interest. The loan-to-value ratio (LTV) of this application can be changed by the development team, usually with prior announcement. However, on April 11th, the developer modified the LTV of EZETH to 60% through the POOLCONFIGURATOR-PROXY contract without any announcement. This action resulted in a significant number of EZETH leveraged farmers being liquidated for violating the collateral rules of the protocol, as stated by the smart contract developer, ROFFET.ETH.