PANews reported on March 15th that a user who exchanged $50 million worth of USDT for AAVE through the Aave interface on March 12th failed to notice slippage warnings and ultimately only received approximately $36,000 worth of AAVE, resulting in a loss of nearly $50 million. Aave stated that the exchange occurred through a third-party CoW Swap, and the Aave core protocol was unaffected. Furthermore, Aave will deploy a new feature, Aave Shield, which will by default prevent exchanges where price fluctuations exceed 25%.

Previously, it was reported that a whale lost nearly $50 million when exchanging USDT for AAVE because it ignored slippage warnings.