Uniswap V3 User Loses $700,000 in Just a Second Due to a Mistaken Transaction!

Author: Mustafa Mulla

Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.

Nov 4, 2023 21:24

A Uniswap V3 user lost over $700,000 in just 12 seconds due to a mistaken transaction in which they added $1.56 million worth of wrapped BTC to a liquidity pool, mistaking the value of the Curve DAO token for USD. The user received 1.56 million CRV in return, which was worth only around $850,000 at the time. MEV bots quickly exploited the arbitrage, though the most successful bot only netted around $260 after paying a $527,000 bribe to validators. “Fat finger” errors are not uncommon in crypto, with a similar incident happening last month when a user swapped $130,000 in one stablecoin for $0 worth of another.