Coinbase customers are experiencing pain in new ways as Bitcoin and Ethereum tumble, with losses piling up for thousands of users through the exchange’s crypto-backed lending product.

Over the past week, Coinbase users have lost $170 million worth of collateral through liquidations on DeFi platform Morpho, according to a Dune dashboard. As Bitcoin and Ethereum notched double-digit declines, some 2,000 users lost $90.7 million on Thursday alone.

When Coinbase began providing access to Bitcoin-backed loans last year, the company positioned the product as a way for people to grow their wealth. It later expanded to Ethereum-backed loans, while raising loan limits to $5 million per customer.

As Bitcoin and Ethereum have…