According to Wu, Aave released a recap of the swap incident, stating that a user exchanged approximately $50.43 million worth of aEthUSDT for approximately $36,000 worth of aEthAAVE via a CoW Swap route on the Aave front end, resulting in a price impact of approximately 99.9%. Aave stated that the transaction occurred within a third-party swap protocol, and the core lending protocol was unaffected. The incident was caused by a user executing an extremely large order in a market with very low liquidity and confirming a high-risk quote. Aave announced the launch of the Aave Shield feature, which will by default block swaps where price impact exceeds 25%.
437
0
0
31
Foresight News
03-14 02:28
Follow
🥲Ignoring slippage resulted in a $50 million loss in on-chain exchanges; CoWSwap will refund $600,000 in fees.
Previously, according to on-chain analyst @liu_web3, a whale attempted to exchange approximately 50.43 million aEthUSDT for AAVE via CoWSwap in the early morning.
However, due to excessive slippage, they only received approximately 327.24 aEthAAVE (approximately $36,000), resulting in a loss of approximately $50.39 million.
Aave founder @StaniKulechov tweeted about the incident, stating that users must explicitly accept the high slippage risk by confirming the checkbox before the transaction can proceed.
"Similar incidents do occur in the DeFi space, but this transaction's scale is far larger than what is typically seen in this space.
We understand the user's feelings and will attempt to contact them while refunding the $600,000 in fees charged for this transaction."
396
0
0
46
Lookonchain
03-13 11:26
Follow
The person who exchanged 50.43 million aEthUSDT for only 327 aEthAAVE (worth $36,000) is very likely Garrett Jin (#BitcoinOG1011short)! 👀
Evidence below: 👇
Through on-chain tracking, we found 13 wallets that may belong to him. These wallets:
- All wallets received USDC or USDT from Binance on February 16th and February 20th.
- All wallets became active again today and transferred funds to 2 new wallets.
One of these wallets used the same Binance deposit address as Garrett Jin.
Garrett Jin sold 261,024 ETH (worth $543 million) and 11,318 BTC (worth $761 million) on February 15th and February 20th, respectively, very close to the dates these wallets withdrew stablecoins from Binance.
Wallets:
0x98B9D979C33dD7284C854909BCC09b51FBF97Ac8
0x8794C43CEaB422EF4F9397A818B0D5Fa73f9EEac
0x7017dD6E3C604626ADCB95E4e5562356E55442E0
0xAB6efD7ca41E7245573a54afa3Ec16D660 Announcement 0548
0xd7536E10330Af851032102baDA7174910E8f3e5B
0xE197ac9a200A7EA52C0fb2Ab15f8A1f702077bf4
0x651b5943111E0B89216f36be8BC70B75cE0f415b
0xcaE19A19128C4Aabbabc2334613C6b7AE75b 1111
0xA71E174Ef86d93573CfD0f18e04808Ebb4f718C4
0xaFec395F6CBeb64e674bd0a0d8c873fd2f97513e
0x315b44f9397b426F8453bB9b22DbcfBEFd3eFFd0
0xBE295544d2C07FcB67CEF20699DfF3Ebc45829 e4
0x1AC312360AACf782993CB6E283aC433623f7e8b6
0x1cBa79CF8DD10D0D6cD6f098B34DFc3499377829
0x2E42E686c6444781E110775F2623E895e900AcbF
0x7d09eBF7A43FD3b0427541BA9D762466C9CBfC8A
448
0
0
41
Lookonchain
03-13 09:58
Follow
Unbelievable!
Someone actually exchanged 50.43 million aEthUSDT for 327,241 aEthAAVE (worth $36,000), losing $50.4 million.
On the Aave platform, users are clearly informed of high slippage and must check a checkbox to acknowledge the risk before trading.
However, this user still checked the checkbox and proceeded with the exchange.
421
0
0
47
Scam Sniffer | Web3 Anti-Scam
2025-08-06 09:21
Follow
⚠️ The victim signed a malicious transfer transaction, sending their aEthUSDT tokens (worth $3,053,646) to the phishing contract. 🎣💔
347
0
0
24
Huobi HTX
2025-05-13 01:38
Follow
🟦aEthUSDT is a Token in the Aave protocol. When a user deposits USDT (Tether) into the Aave V3 Ethereum network, he will receive the corresponding number of aEthUSDT as credentials.
🟦aEthWETH is a Token in the Aave protocol. When a user deposits WETH (wrapped Ether) into the Aave V3 Ethereum network, he will receive an equal amount of aEthWETH.
@aave
🟦Huobi has now opened the coin recharge services of aEthWETH and aEthUSDT!
🔹aEthWETH coin transaction has been started!
🔹aEthUSDT's currency transaction has also been started!
🔹The withdrawal services of both will be opened at 21:00 (UTC+8) tomorrow night!
464
0
0
21
Aave
2025-04-09 23:12
Follow
The proposal approved AETHUSDT's specific allowance from AAVE collector contract to AAVE Finance Committee (AFC), enabling the Commission to initiate AAVE buybacks as part of Aavenomics implementation.
More here: