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A button, $5043 wan turned into $3.65 wan, directly lost $5039 wan 😰
6 hours ago, a whale/institution wanted to exchange aEthUSDT for aEthAAVE. They ignored the slippage exception warning that popped up indicating insufficient liquidity to meet their trading needs and confirmed to proceed with the trade anyway. The result was that 50.43 million USDT only got swapped for 327.2 AAVE ($3.65 wan), directly losing 50.39 million.
For MEV, it's money falling from the sky. By bribing block proposers for arbitrage, they devoured this cake that was served on a silver platter, directly making tens of millions of dollars in profit.
The only silver lining is that this $5043 wan is not the whale/institution's entire fund. They still have 302 million USDC in another wallet. Although this trade resulted in heavy losses, it's not enough to cause direct bankruptcy, otherwise they'd have to jump off a building 😂