Dormant Wallet Loses $6M in Crypto Swap
Update: 2025-11-17
Description
A dormant Cardano wallet lost over six million dollars due to extreme price slippage during a swap, transforming fourteen million ADA into a mere eight hundred forty-seven thousand USDA, a stablecoin meant to be worth one dollar. The wallet, inactive since 2020, suddenly reappeared, causing USDAs price to spike before plummeting. The incident highlights the risks of illiquid pools and the importance of checking for slippage in large trades.
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