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The PAC FINANCE liquidation event resulted in an address profiting 244 ETH and being marked as high risk.

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Odaily
619Words
Apr 11, 2024

ODAILY Star Daily reported that researcher 0XLOKI published an article on the X platform regarding the PAC FINANCE liquidation event. The article pointed out that an address (0X4883094B78A6EA2A4AED28B864156276D2ACDB3D) obtained a net profit of approximately 244 $ETH through the liquidation. All fund transfers from this address were completed through bridging, with no other interaction except for deploying the liquidation robot. SlowMist founder, Yu Xian, stated that this address has been marked as high risk on the MISTTRACK platform. In addition, PAC FINANCE responded to the issue of "being liquidated due to the modification of the protocol's LTV parameter, resulting in a loss of $24 million." They stated that they have taken note of this matter and are contacting affected users to formulate a solution. The company has assigned smart contract engineers to make necessary modifications to the LTV, but an unexpected change in the liquidation threshold has led to the current problem. PAC FINANCE plans to establish a governance contract or time lock to ensure that future upgrades can be discussed in advance.

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