I staked BNB token few days ago on the Swipe App with 60% LTV. My loan was liquidated yesterday at 61% LTV which I don’t understand why, but doesn’t make sense to me. However the problem is that the option to repay was removed from the app giving me no option to do anything about it before the loan was liquidated. This is unacceptable.
I contacted support and they told me to contact support through the telegram chat. On this group I was targeted by a scammer who appeared to be an official Swipe Tech member. Asked me to connect my Metalmark wallet to Wallet Connect, as he told me that this was the only way to repay the Loan. As soon as I connected the wallet my funds disappeared from my MetaMask wallet worth $1500.
This telegram group is a security threat for Swipe members who should be dealt only in app and not on third party apps, and PUBLIC groups such as the one I was referred to where Hackers/Scammers are easily able to scam Swipe members. This is very poor decision by Swipe to do business as such.
I would like to know what Swipe is doing regarding liquidated loans without giving members the right to action its repay before liquidation. And providing a clear terms and conditions of staking.
And second taking responsibility for putting Swipe members at risk of scammers through public groups. What is Swipe doing to compensate members who have been scammed due to the lack of security measures by Swipe ?