Someone swapped 130,000 $USDR for 0.0001 $USDC

Specifically, a user, X, discovered that someone on the OceanSwap DEX platform had swapped 131,350 wUSDR tokens for 0.0001 USD in USDC, resulting in a substantial loss.

Someone Swapped 130,000 $usdr For 0.0001 $usdc_65b96e149a48e.webp

Specifically, a user, X, discovered that someone on the OceanSwap DEX platform had swapped 131,350 wUSDR tokens for 0.0001 USD in USDC, resulting in a substantial loss. Additionally, this individual had to pay a 0.0012 BNB (worth $0.25) gas fee.

USDR is a stablecoin backed by Real World Assets and several cryptocurrencies, considered to have poor liquidity and high volatility. The coin had experienced a severe devaluation, dropping from $1 to $0.5 USD on the evening of October 11, due to the impact of a sudden withdrawal wave.

Someone swapped 130,000 $USDR for 0.0001 $USDC

REKT pic.twitter.com/YPjcUC4vzS

— Rekt Fencer (@rektfencer) October 11, 2023

Following the loss of its peg to $1 on October 11, it’s possible that this user may have panic-sold their USDR holdings and encountered an error during the transaction.

“Due to the loss of peg of the USDR stablecoin, this individual inadvertently swapped 131,350 USD USDR for 0 USD USDC during the USDR sell-off,” Lookonchain reported on X.

Related: $90 Billion USD Flows into Cryptocurrency

“And an MEV bot successfully executed a transaction, taking advantage of the price differential of $107,000.”

The precise cause of this incident remains unclear; however, it may be related to the imbalance in the number of tokens within the trading pool.

(100 votes)

5.0/5

(100 votes)

Latest

70% Of Bnb Chain Memecoin Investors Are In Profit

News | Editor Choice | Memecoin

70% of BNB Chain Memecoin Investors Are in Profit – CZ’s “Meme Season” Is in Full Swing

The memecoin wave on the BNB Chain is exploding, with over 70% of investors reporting profits as capital floods in — marking the start of the most vibrant “meme season” ever predicted by CZ.

Paypay Acquires 40% Stake In Binance Japan

News | Editor Choice | Policy & Regulations

PayPay Acquires 40% Stake in Binance Japan

The acquisition of a 40% stake in Binance Japan marks a historic milestone for PayPay, paving the way for the convergence of traditional payments and digital assets, and shaping the future of Japan’s digital finance landscape.

Bitcoin Boom Ahead Institutional And Derivatives Data Reveal

News | Bitcoin | Editor Choice

Bitcoin Boom Ahead? Institutional and Derivatives Data Reveal

Market experts believe that Bitcoin (BTC) is in a phase of accumulation rather than topping, predicting a retest before the next explosive breakout.

Bnb Super Cycle – A Massive Rally Or Binance’s Next Big Bubble

News | Altcoin | Editor Choice

BNB Super Cycle – A Massive Rally or Binance’s Next Big Bubble?

Binance’s BNB token is heating up the crypto market with a series of new record highs, but amid the excitement of the so-called “Super Cycle,” many analysts warn it could just be a bubble waiting to burst.

Bitcoin Cools Off After Record Breaking Rally

News | Bitcoin | Editor Choice

Bitcoin Cools Off After Record-Breaking Rally

After a series of record-breaking gains, Bitcoin suddenly slipped more than 2% on Tuesday afternoon as a wave of profit-taking spread and investor caution returned to the crypto market.

Screenshot 2025 09 10 100533