Whale Transaction Error: $50 Million USDT Swapped for $36,000 Worth of AAVE on CoW Swap

An unidentified cryptocurrency whale suffered a loss of nearly $50 million in a bizarre transaction on CoW Swap. The whale, using the CoW protocol integration on the Aave interface, exchanged 50.43 million USDT for only 331 AAVE tokens, worth approximately $36,400. CoW Solver Routes $50 Million Through $73,000 Liquidity Pool The transaction flow shows that the solver first extracted 50.43 million USDT by burning 50.43 million aEthUSDT through Aave V3. This USDT then entered the Uniswap V3 USDT/WETH pool, eventually being converted into 17,958 WETH. At a price of approximately $2,050 per ETH, this transaction should have yielded around 24,600 WETH. However, Uniswap alone consumed approximately $13.6 million in slippage.

The end result was 331 AAVE tokens, worth $36,400, implying a slippage of 99.9% for the entire transaction. On-Chain Data Aave's founder stated that despite slippage warnings, the user still confirmed the transaction. Aave founder Stani Kulechov stated on X: "We deeply sympathize with this user and will attempt to contact them. We will refund the $600,000 in fees collected from the transaction." CoW Protocol stated that there was no indication of a protocol vulnerability or malicious behavior. The protocol stated that the transaction was executed according to the parameters of the signed order. AAVE Trading at $111 Amid Extreme Fear