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Aave Swapper Loses $50M to Slippage
The unnamed swapper confirmed slippage warnings and made the transaction using their mobile device.
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Earlier today, an individual attempted to purchase $50M of AAVE tokens through the Aave interface. The transaction was subject to high slippage and furnished 324 AAVE (~$35k), resulting in a near total loss.
What's the Scoop?
- Bungled Trade: Earlier today, a user attempted to purchase $50M of AAVE tokens using USDT through Aave's website frontend. The user initiated the transaction via mobile device, disregarded automated slippage warnings, and proceeded with the swap, netting a dismal 324 AAVE. In response, Aave Labs CEO Stani Kulechov announced that Aave will refund the user's $600k swap fee and explore additional guardrails to better protect users.
- Monster MEV: Blockchain data analyzed by onchain researcher bheau suggests the transaction generated the largest single-block builder reward in history. Titan captured $34M from an MEV bot that paid heavily for the rights to conduct arbitrage around the swap. The MEV bot itself captured about $10M by "backrunning" the trade's immense price dislocation.
Earlier today, a user attempted to buy AAVE using $50M USDT through the Aave interface.
— Stani.eth (@StaniKulechov) March 12, 2026
Given the unusually large size of the single order, the Aave interface, like most trading interfaces, warned the user about extraordinary slippage and required confirmation via a checkbox.…