Crypto investor turns $50 million into $36,000 in one botched move

Aave founder Stani Kulechov said the interface displayed multiple slippage warnings, which the user manually accepted on a mobile device. What to know : A crypto trader lost about $50 million in a single transaction after swapping interest-bearing aEthUSDT for aEthAAVE through CoW Protocol. Large losses by slippage occasionally occur in decentralized finance (DeFi) when traders attempt to execute unusually large orders against shallow liquidity pools, with arbitrage bots exploiting the price dislocation. Aave founder Stani Kulechov said the interface had warned the user about extraordinary slippage and required explicit confirmation, which the user confirmed on their mobile device.(Coindesk)