🥲Ignoring slippage resulted in a $50 million loss in on-chain exchanges; CoWSwap will refund $600,000 in fees. Previously, according to on-chain analyst @liu_web3, a whale attempted to exchange approximately 50.43 million aEthUSDT for AAVE via CoWSwap in the early morning. However, due to excessive slippage, they only received approximately 327.24 aEthAAVE (approximately $36,000), resulting in a loss of approximately $50.39 million. Aave founder @StaniKulechov tweeted about the incident, stating that users must explicitly accept the high slippage risk by confirming the checkbox before the transaction can proceed. "Similar incidents do occur in the DeFi space, but this transaction's scale is far larger than what is typically seen in this space. We understand the user's feelings and will attempt to contact them while refunding the $600,000 in fees charged for this transaction."