1. QiAi QuestsHome
  2. Metaverse & Beyond

Understanding the Cost of Ignoring Transaction Reminders in Crypto Trading

• Metaverse & Beyond • 83 views

Understanding the Cost of Ignoring Transaction Reminders in Crypto Trading

On March 13, a user mistakenly sold the Curve LP token 3CRV with a value of more than US $2 million and only got 0.05 USDT. DEX aggregator KyberSwap published the investigation results of this event. KyberSwap said that when the user sold, only the route of 0x was successful, so KyberSwap chose the transaction path provided by 0x, which pointed to a pool with almost no liquidity, but the user did not seem to notice the reminder of the actual value of tokens obtained through the transaction and continued to trade, resulting in losses.

KyberSwap: has contacted Coinbase and others to try to recover the funds lost by the previous mis-selling of 3CRV users

Analysis based on this information:


The recent loss suffered by a crypto trader selling Curve LP token 3CRV made headlines in the crypto world. The trader mistakenly sold the token for a value exceeding US $2 million but received only 0.05 USDT. The investigation released by DEX aggregator KyberSwap sheds light on what went wrong in this transaction. According to KyberSwap, the authorized transaction path provided only by 0x succeeded and pointed towards a pool with little liquidity. KyberSwap, while aware of the lack of liquidity at the pool, followed the path, and subsequently, the trade was completed leading to losses for the trader. While KyberSwap may have contributed to the loss, the outcome could have been different if the trader had been cautious and more aware of the transaction details, such as the amount of liquidity in the pool.

This event highlights two issues; the importance of liquidity in crypto trading and adherence to the reminders during the transaction. In today’s volatile crypto market, traders need to pay attention to liquidity to avoid losses. It is critical to consider the token’s demand and trading volume before making any trade. The higher the liquidity, the easier it is to trade the token without any significant impact on the price. Liquidity provides traders with more flexibility and control while making transactions, which helps them minimize losses.

Additionally, transaction reminders during trading, despite appearing annoying, play an essential role in reducing errors and limiting losses. A user who chooses to ignore transaction details, such as the amount of liquidity in the pool, might end up suffering a considerable loss. Crypto traders need to be vigilant and pay attention to all the transaction details before making any trades. Failing to do so may lead to significant losses.

In conclusion, crypto traders need to be more cautious while making transactions, taking into account the liquidity factor and reminders during the transaction. Ignoring such factors may lead to massive losses, as was the case with the Curve LP token trader. KyberSwap’s investigation should be an eye-opener for crypto traders, encouraging them to be more alert and attentive while trading.

This article and pictures are from the Internet and do not represent qiAiAi's position. If you infringe, please contact us to delete:https://www.qiaiai.com/metaverse/7713.html

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.

Like (0)
Previous 03/13/2023 07:54
Next 03/13/2023 08:07

Related recommendations