tldr; A trader lost nearly $50 million in a swap on Aave’s platform after attempting to exchange $50.43 million USDT for AAVE tokens. Due to insufficient liquidity, the trader received only 327 AAVE tokens worth approximately $36,000, resulting in a 99.9% loss. Aave’s interface had warned of ‘extraordinary slippage,’ requiring manual confirmation, which the trader acknowledged before proceeding. Aave plans to refund $600,000 in fees and review safeguards to prevent similar incidents in the future.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Serenaded on
this is so brutal. who got the money?
spin_kick on
How do you come back from a loss like that?
ImaFreemason on
Husband “I’ll burn it before I give you half of what I earned!”
4 Comments
tldr; A trader lost nearly $50 million in a swap on Aave’s platform after attempting to exchange $50.43 million USDT for AAVE tokens. Due to insufficient liquidity, the trader received only 327 AAVE tokens worth approximately $36,000, resulting in a 99.9% loss. Aave’s interface had warned of ‘extraordinary slippage,’ requiring manual confirmation, which the trader acknowledged before proceeding. Aave plans to refund $600,000 in fees and review safeguards to prevent similar incidents in the future.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
this is so brutal. who got the money?
How do you come back from a loss like that?
Husband “I’ll burn it before I give you half of what I earned!”
Soon to be Ex “Do it then, I don’t care!!”
Husband “Umm…I was only kidding, but I fckd up.”