#robo $ROBO

$AAVE

AAVE

97.69

+1.30%

The whale lost $50 million due to a single click while purchasing AAVE

📊 What happened

The user attempted to exchange $50.4 million in USDT for AAVE, however, the slippage settings of the transaction were set to 99%.

As a result, the system received effective permission to execute the order at practically any price.

Transaction summary:

— $50.4 million USDT

— only about $36 thousand in AAVE

— the remaining amount was consumed by slippage and MEV arbitrage

📉 Where the money went

— about $34 million were received by MEV bots associated with block builders Titan

— approximately $600 thousand were protocol fees

Before confirmation, the interface warned the user twice about high slippage, however, the order was still confirmed.

📊 Aave team's reaction

The founder of the protocol, Stani Kulechov, stated that the system operated correctly:

— the user received warnings

— additional confirmation was requested

— the transaction was executed according to the specified parameters

At the same time, the aggregator CoWSwap was even able to execute part of the transaction at 0.7% better than the market price at the time of execution.

The Aave team is currently trying to reach out to the trader to return at least $600 thousand in fees received by the protocol.