@tum4y
You’ve probably seen the news about the whale who accidentally confirmed a swap on their phone today and lost $50M USDT.
Let’s first look at where that $50M went:
$33M went to Titan MEV (potentially refundable).
$10M went to the CowFi protocol (potentially refundable).
$1.2M went to Lido validators.
The Titan owners immediately deposited the ETH into Coinbase. Now, they have two options: they can either refund the funds (perhaps keeping a bounty) or just sell and enjoy the windfall.
It’s a situation that depends entirely on their goodwill.
I should also mention that Cowswap bears some responsibility here. Normally, this transaction should have appeared as $8.8M USDT in the UI, but it only showed as $36k.
It’s strange that the whale approved the transaction despite seeing that figure; it was either a moment of extreme carelessness or something else entirely like money laundering (though that seems unlikely).
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