A single click cost a trader $50 million
A crypto trader lost ~$50 million in a single swap after triggering massive slippage.
The wallet tried to swap $50.4M aEthUSDT for aEthAAVE using CoW Protocol connected to Aave.
Because liquidity was thin, the trade executed with 99% slippage.
Result:
- trader received only 327 aEthAAVE
- Worth roughly $36,000
The rest of the value was quickly captured by arbitrage bots.
Blockchain researchers say over $43M was extracted in the same block.
According to Stani Kulechov, the interface showed multiple slippage warnings,
which the user manually accepted before confirming the trade.