Post #11794

Unlucky Trader swapped $50M USDT for only $36,000 AAVE on Ethereum A wallet attempted to swap $50M in $USDT for $AAVE through CowSwap via the Aave frontend. Unfortunately, the trade went wrong due to lack of liquidity onchain and the funds were almost entirely lost to arbitragers – he recieved only $36,000 in $AAVE. According to on-chain researchers, the wallet cluster belongs to Garret Bullish – he was managing the money from his phone. This wallet cluster withdrew 464M $USDT from Binance 3 weeks ago. Garret Bullish, or Garrett Jin, is a multi-billion BTC whale and former CEO of collapsed exchange BitForex. He made $100M+ in profit shorting market in October, but got fully liquidated for more than $700M 2 weeks ago. His Hyperliquid account is now down more than $128M in all-time PnL since he started trading on this account in early October – and now he got another $50M loss with Aave. After investigation, Aave decided to return $600K in fees collected from the transaction. 🔗x.com/StaniKulechov/status/2032193345414664659 @TOP7ICO