News

ChainCatcher reported that a crypto user lost approximately $50 millions in a token swap transaction on Thursday. On-chain data shows that the user exchanged about $50.43 millions worth of aEthUSDT for aEthAAVE via CoW Protocol. Due to insufficient liquidity in the relevant pool, the transaction slippage exceeded 99%, resulting in the user receiving only about 327 aEthAAVE, valued at roughly $36,000. The difference was captured by arbitrage traders and intermediaries in the network. Aave founder Stani Kulechov posted on X, stating that the user purchased AAVE with $50 millions USDT through the Aave interface. Because the order size was unusually large, the interface issued an extreme slippage warning and required the user to check a confirmation box. The user accepted the warning on a mobile device and proceeded with the transaction. Kulechov noted that the CoW Swap router operated as expected and followed industry-standard procedures, but the outcome was clearly undesirable. Kulechov said Aave plans to contact the user and refund approximately $600,000 in fees collected from the transaction. A few days before this incident, about $27 millions in positions on Aave were liquidated, and some market participants believe the liquidation may have been related to a temporary pricing issue with wstETH.

The trading volume of STRC by Strategy reached 7.3 million shares today, all above the threshold price, equivalent to approximately 4,086 BTC. (Cointelegraph)

ChainCatcher news, according to Arkham data, at 08:00, 164.99 BTC (worth about 10.08 millions USD) were transferred from an anonymous address (starting with bc1qgpp...) to Cumberland DRW.