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
2,111.5
+1.63%
AAVE
114.76
+4.03%
Aave to refund $600k in fee