News

The user lost $50 million when exchanging tokens for Aave

An unknown investor tried to exchange 50.43 million USDT for AAVE through the CoW Protocol aggregator and the SushiSwap exchange. As a result, he received only 327 tokens worth about $36,000.

image
Source: Etherscan.
The actual purchase price was approximately $154,000 per coin, although the market rate at that time was about $114.

The situation was exploited by a MEV bot that tracks pending transactions in the mempool. He carried out a classic "sandwich attack":

I took out a $29 million flash loan at WETH on the Morpho site;
I bought a large amount of AAVE on Bancor, accelerating the price of the asset;
I missed the transaction of the victim, who bought the tokens at an inflated price.;
He sold his coins on SushiSwap, making a profit of $9.9 million.
User's responsibility
Aave founder Stani Kulechov said that the protocol interface warned the investor about a "critical slippage" due to an abnormally large order. Despite this, he confirmed the transaction from his mobile device and agreed to the terms.

Earlier today, a user attempted to buy AAVE using $50M USDT through the Aave interface.

Given the unusually large size of the single order, the Aave interface, like most trading interfaces, warned the user about extraordinary slippage and required confirmation via a checkbox.…

— Stani.eth (@StaniKulechov) March 12, 2026
Kulechov stressed that Aave will contact the user and compensate him for the $600,000 in fees received from the transaction.

CoW DAO also noted that the user had seen warnings about an almost complete loss of funds, but had deliberately approved the deal. According to the team, no DEX or aggregator could execute such an order at an adequate price.

Statement from CoW Protocol:

Earlier today, a trader attempted to swap 50M aEthUSDT for aEthAAVE through Aave's swap interface, which is powered by CoW Protocol. Despite clear warnings that showed the user they would lose nearly all of the value of their transaction, and despite… https://t.co/Pav4udXUkX

— CoW DAO (@CoWSwap) March 13, 2026
"Such deals show that the user experience in DeFi is not yet at the level necessary for the safety of all users. We are analyzing how we can balance reliable protection mechanisms with maintaining user autonomy. It goes without saying that we will also refund any fees from this transaction," the developers added.

Source: ForkLog (translated by AI)

Don't forget about the settings that limit the slippage.

A bit odd, WTI (US Oil) climbing right into the US open, now highest price since 9th March.

Long Bank holiday Easter (Friday and Monday) UK and some Euro countries.

Whatever Trump said yesterday to calm the markets it didn't work.

Could get a V reversal with price going straight back to where it came from in the US session, or continuation to test March 9th high.

What is going on with oil?

Usually futures price is about the same with WTI CFD and below Brent, but what I see now is:

Brent: 107.76

Current future: 111.12

WTI: 102.22

EDIT: revised prices in png

chris006 wrote: Fri Apr 03, 2026 1:28 am What is going on with oil?

Just usual manipulation.

Market consensus drifting away from Trump's messaging (this is fine) and now expecting higher prices in the near future, pay up to secure your supply. June still holding out that it'll all be over by then.

Below are Spot, May contracts and June contracts;

Since 2021, two honey badgers have been living in the Moscow Zoo — male Neo and female Trinity. Conditions close to natural conditions have been created for them in aviaries, and food for the animals is hidden so that they can get it. Come visit and join the online broadcast to watch these furry daredevils!

Online broadcast from the zoo.

https://zoo.mos.ru/medoed/

The deputy was declared insane and released from criminal punishment for a mining farm.

According to investigators, Kargin illegally connected his farm to the power grid, which caused damage to the energy company of 30 million rubles. For this, the businessman faced up to five years in prison under the article on causing property damage (part two of Article 165 of the Criminal Code of the Russian Federation).

Kargin himself did not deny the existence of a mining farm in conversations with law enforcement officers, but told local media that he connected devices for mining cryptocurrencies on the instructions of another deputy, whose name he did not name.

"The farm was standing. We were told where to go, and we connected there. There was nothing like that," the former deputy told Nizhny Novgorod Online.

During the trial, Kargin's mental insanity was proven, which allowed the former parliamentarian to be sentenced to compulsory outpatient treatment. The accused did not attend the verdict.

Recently, in the Demsky district of Bashkortostan, power engineers discovered an illegal mining farm, equipped in a garden house. To reduce energy costs, the farm owner reprogrammed the meter: the meter underestimated the actual consumption by about 96%. As a result, the power engineers calculated damage to themselves in the amount of more than 1.8 million rubles.

Earlier, the Federal Security Service of Russia for the Sverdlovsk Region, together with the power engineers of the Rosseti Ural branch, found an illegal mining farm with more than 850 devices in an abandoned production facility near the city of Asbestos.