PAC FINANCE has responded to the $24 million liquidation incident by stating that they are reaching out to affected users and planning to establish governance contracts or time locks to prevent future issues. The incident was caused by the sudden modification of the LTV parameter in the EZETH pool without prior notification from the team, resulting in the liquidation. PAC FINANCE has assigned smart contract engineers to make necessary modifications and will ensure discussions before upgrades through governance contracts or time locks in the future.

Odaily Planet Daily News: In response to the incident of "24 million USD liquidation due to modification of LTV parameters in the agreement," Pac Finance replied on X, stating, "We have taken note of this issue and are actively contacting the affected users to develop a plan to resolve the problem. In the process of adjusting the Loan-to-Value (LTV) ratio, we have assigned a smart contract engineer to make necessary modifications. However, we discovered that the liquidation threshold was unexpectedly changed without prior notification to our team, resulting in the current problem. In the future, we will establish a governance contract or time lock to ensure that all future upgrades are discussed in advance."

Earlier, developer kydo.eth from EigenLabs stated on X that the Blast ecosystem lending project, Pac Finance, experienced a liquidation of 24 million USD due to the sudden modification of the LTV (Loan-to-Value) parameters in the ezETH pool.

PAC FINANCE responds to the $24 million liquidation event, plans to prevent future issues.