$131k USDR stablecoin trade results in $0 during value fluctuation
During a recent fluctuation in USDR’s value, a transaction involving 131k stablecoin s yielded no return for the trader. Following the startling revelation from yesterday’s events surrounding the real-estate-backed U.S. dollar stablecoin , Real USD (USDR), a trader encountered a grave setback by swapping a staggering 131,350 USDR for 0 USD Coin (USDC). This unfortunate event reflects the high-risk nature of decentralized exchanges (DEXs) and the looming vulnerabilities of asset-backed tokens. Due to the decoupling of the stablecoin USDR, this guy accidentally swapped 131,350 $USDR for 0 $USDC while panic selling $USDR. And a MEV bot successfully arbitraged $107K.https://t.co/FHOJtaGcSDhttps://t.co/IYtoqar29N pic.twitter.com/USLF1qkVDK — Lookonchain (@lookonchain) October 12, 2023 The data, sourced from the prominent blockchain analytics firm Lookonchain, highlighted that the swap took place on the BNB Chain via the decentralized exchange, OpenOcean. This transp...