From Nearly 8 Billion Yen to 6 Million Yen: DeFi User Suffers Massive Loss Due to Operational Error—What Happened?

2026/03/13 11:06 (Updated 2026/03/13 16:01)

CoinPost

Written by L.Kikutani

From Nearly 8 Billion Yen to 6 Million Yen: DeFi User Suffers Massive Loss Due to Operational Error—What Happened?

Reigniting the Debate on User Protection and Freedom

On December 12, Stani Kulechov, CEO of Aave, the leading decentralized finance (DeFi) platform, revealed that a user attempted to swap approximately $50 million (around 8 billion yen) worth of USDT for AAVE tokens through the company's interface. The swap was executed at a highly unfavorable rate, resulting in substantial losses.

According to Mr. Kulechov, the issue was not related to slippage tolerance but rather to an extreme 'price impact'...

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Iolite Vol.18

March 2026 issueReleased on 2026/01/30