A cryptocurrency trader recently suffered a massive loss of nearly $50 million in a single decentralized swap on the Ethereum blockchain.

The incident occurred on March 12, 2026, when the user attempted to exchange approximately $50 million worth of USDT specifically, interest-bearing aEthUSDT from the Aave protocol for AAVE tokens directly through the official Aave trading interface.The trade was routed via CoW Protocol (a swap aggregator), but due to the enormous order size relative to available liquidity in the relevant pools…