KyberSwap: has contacted Coinbase and others to try to recover the funds lost by the previous mis-selling of 3CRV users
On March 13, a user mistakenly sold the Curve LP token 3CRV with a value of more than US $2 million and only got 0.05 USDT. DEX aggregator KyberSwap published the investigation results of this event. KyberSwap said that when the user sold, only the route of 0x was successful, so KyberSwap chose the transaction path provided by 0x, which pointed to a pool with almost no liquidity, but the user did not seem to notice the reminder of the actual value of tokens obtained through the transaction and continued to trade, resulting in losses.
Interpretation of this information:
On March 13, a user made a costly mistake by selling the Curve LP token 3CRV for only 0.05 USDT instead of more than US $2 million. DEX aggregator KyberSwap has conducted an investigation into the event and found that only the route of 0x was successful, leading to a pool with almost no liquidity. Despite KyberSwap’s warning about the actual value of tokens received from the transaction, the user proceeded to trade and suffered losses.
This incident highlights the importance of understanding the liquidity of pools when trading on decentralized exchanges. Users need to pay attention to the transaction paths provided by DEX aggregators and consider factors such as pool liquidity before making trades. Moreover, users must be heedful of the warning messages displayed during the transaction process, failing which they may suffer significant financial losses.
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