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BTC $70,585.82 +3.54%
ETH $2,142.96 +4.36%
BNB $632.36 +0.88%
XRP $1.42 -4.56%
SOL $81.67 -4.53%
TRX $0.2795 -0.47%
DOGE $0.0974 -3.83%
ADA $0.2735 -4.22%
BCH $473.26 +1.25%
LINK $8.64 -2.97%
HYPE $28.98 -1.81%
AAVE $122.61 -3.42%
SUI $0.9422 +3.60%
XLM $0.1605 -4.62%
ZEC $260.31 -8.86%
BTC $70,585.82 +3.54%
ETH $2,142.96 +4.36%
BNB $632.36 +0.88%
XRP $1.42 -4.56%
SOL $81.67 -4.53%
TRX $0.2795 -0.47%
DOGE $0.0974 -3.83%
ADA $0.2735 -4.22%
BCH $473.26 +1.25%
LINK $8.64 -2.97%
HYPE $28.98 -1.81%
AAVE $122.61 -3.42%
SUI $0.9422 +3.60%
XLM $0.1605 -4.62%
ZEC $260.31 -8.86%

warning

A user lost approximately 50 million dollars in a single transaction due to slippage, and the founder of Aave stated that the interface had issued multiple warnings

A crypto user lost approximately $50 million in a token swap transaction on Thursday. On-chain data shows that the user exchanged about $50.43 million worth of aEthUSDT for aEthAAVE through the CoW Protocol, but due to insufficient liquidity pool depth, the transaction experienced a slippage of over 99%, ultimately resulting in the user receiving only about 327 aEthAAVE, worth approximately $36,000, with the difference being captured by arbitrage traders and network intermediaries.Aave founder Stani Kulechov posted on the X platform that the user purchased AAVE using $50 million USDT through the Aave interface. Due to the unusually large size of the single order, the interface issued an extreme slippage warning to the user and required confirmation. After accepting the warning on a mobile device, the user proceeded with the transaction.Kulechov stated that the CoW Swap router operated as expected and followed industry-standard operating procedures, but the outcome was clearly not ideal. Kulechov mentioned that Aave plans to contact the user and refund approximately $600,000 in fees charged from the transaction. Days before this incident, about $27 million in positions on Aave were liquidated, and some market participants believe that this liquidation may be related to a temporary pricing issue with wstETH.

CoinW releases a security alert, warning against the risks of counterfeit websites and applications inducing transfer

CoinW recently issued an official announcement reminding that a scam activity involving fake websites and mobile applications (Apps) has been detected. The scammers maliciously impersonated CoinW's name, graphics, logo, and brand image.The scammers targeted potential victims through publicly available information on the internet and social media platforms like LinkedIn. They used the victims' social profiles to verify their locations and establish initial contact, subsequently luring users to move the communication to Telegram. Scammers commonly employ manipulative tactics (including fabricating "luxurious lifestyle" stories) to deceive victims into transferring cryptocurrency to wallet addresses under their control. CoinW solemnly reminds: please be sure to access the official website or download the app through official channels. If you have doubts about the source of information, please contact the CoinW legal team for verification immediately. If you discover suspicious websites or counterfeit applications, please stop all operations and report them to the official channels. CoinW stated that it will continue to strengthen the construction of its security and risk control system, maintain a safe, fair, and transparent trading environment, and firmly support global anti-fraud, anti-money laundering, and sanctions compliance efforts.
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