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This endpoint marks a loan as defaulted due to non-payment. It is typically triggered when the borrower fails to meet repayment obligations within the allowed grace period. Marking a loan as defaulted may initiate downstream processes such as collateral liquidation, recovery actions, or reporting. What it does:
  • Updates the loan status to “defaulted”
  • Signals the platform to begin recovery or liquidation processes
  • Records the default event immutably on-chain
When to use it:
  • After the borrower misses scheduled repayments beyond the contractual grace period
  • As part of automated delinquency handling logic
  • Before initiating collateral enforcement or legal action

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Request Body

The request body must include the unique identifier of the loan being marked as defaulted: 
{
  "loanId": "0x5a0c0663a48e3abf16c7f0ee632b57da833e44e02a290fc0920ea2858da31f73"
}

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Response

  • Returns a confirmation of success with the blockchain transaction hash:
{
  "transactionHash": "0x5a0c0663a48e3abf16c7f0ee632b57da833e44e02a290fc0920ea2858da31f73"
}