5-year Cardano hodler loses 90% of $6.9M ADA in bungled swap
A Cardano holder mistakenly turned $6.9 million worth of ADA into $847,695 million worth of a little-known stablecoin after using a highly illiquid trading pool.
A five-year Cardano holder accidentally torched more than $6 million in ADA after using an illiquid trading pool to facilitate a stablecoin swap.
The trade, first noted by blockchain sleuth ZachXBT on Sunday, saw 14.4 million Cardano (ADA) tokens worth $6.9 million swapped for 847,695 of the US dollar Anzens (USDA) stablecoin, resulting in a loss of approximately $6.05 million.
The Cardano user — with wallet address “addr…4×534” — appeared to make a test transaction of 4,437 ADA for a US dollar stablecoin with the ticker USD at 4:06 pm UTC on Sunday, just 33 seconds before the multimillion-dollar swap to USDA.
