A $50M AAVE Swap Goes Wrong as Trader Receives Only 324 Token
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Trader attempted to swap $50.4M USDT into AAVE via the Aave interface/CoW Swap but received only 324 AAVE (~$36k) due to ~99% price impact, implying an effective price of ~$154,000 per AAVE. A MEV bot executed a sandwich attack using a $29M ETH flash loan to exploit the order; incident highlights DeFi/DEX execution and security risks for large on-chain swaps (wallet had recently withdrawn funds from Binance).
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- A trader attempted to swap $50.4 million USDT into AAVE but received only 324 tokens worth about $36,000.
- The trade executed with about 99% price impact, implying an effective purchase price near $154,000 per AAVE.
- A MEV bot detected the transaction, executed a sandwich attack using a $29 million ETH flash loan.
A crypto trader lost almost the full value of a $50 million transaction after executing a large token swap through the Aave interface. The trade produced extreme price impact and drew attention to the risks of placing very large orders directly on decentralized exchanges.
Blockchain data shows a wallet that recently withdrew funds from Binance attempted to swap about $50.4 million in USDT into the Aave governance token, AAVE.
The order was routed through the Aave interface, which uses the CoW Swap aggregator and liquidity from decentralized exchanges suc…
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Coins
$ 2.09K
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