A trader was able to exchange 1 SPK for $19,687 after the token trading was launched, almost completely emptying the liquidity pool. This was stated by Lookonchain analysts.
Experts explained that this was possible due to an error by user teochew.eth, who created an SPK/USDT pool before trading and provided 19,998 USDT as one-way liquidity. He wanted to set the rate at which 1 USDT equals 19.93 SPK, but mixed up the order and indicated the opposite - 1 SPK costs 19.93 USDT.
As a result, the trader took advantage of the inflated rate and received almost all the liquidity of USDT in exchange for one token. At the time of the transaction, the cost of SPK was $0.05.
When teochew.eth noticed the error, most of the assets had already been withdrawn. He managed to return only $32.92 and 4.69 SPK. Total losses amounted to $19,965
