A crypto trader lost nearly $50 million after swapping aEthUSDT for aEthAAVE through $AAVE on $ETH ereum, ignoring slippage warnings. Thin liquidity caused extreme price impact, turning $50M into about $36,000. The trade routed via #CoWProtocol . Aave later announced plans to return roughly $600,000 in transaction fees collected from the swap.
ETH
2,239.36
+6.80%
AAVE
118.34
+6.44%
Aave to refund $600k in fee