A DeFi user recently lost over $700K in a "sandwich attack" on the Uniswap exchange. The user tried to swap 732,583 USDC for USDT but ended up receiving only 18,636 USDT.
"sandwich attack" happens when an attacker places two trades around a user's order to profit from price changes. In this case, the trader used 100% slippage, which may have caused the loss.
Experts believe this might be a money laundering attempt because the transactions were strange and involved multiple addresses. The crypto community is still debating if it was an accidental mistake or intentional fraud.
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