In an unexpected turn of events, a decentralized finance (DeFi) user accidentally lost a fortune after he swapped $131,350 in wrapped USDR (wUSDR) for $0 in USDC. The transaction was initially captured on DeFi and DEX aggregator OpenOcean by X (formerly Twitter) user @rektfencer. The DeFi user swapped $131,350, equivalent to approximately $141,729.77 in Real USD’s stablecoin, for a mere $0.0001 in Circle’s USDC. To compound the issue, a transaction fee was charged at 0.0012 BNB coins (or approximately $0.25) when the swap was executed.
Providing more context on the unusual turn of occurrence, Lookonchain – an on-chain data analysis platform – accounted the entire situation to the depegging of the USDR stablecoin from its dollar peg. As a result, the DeFi user unintentionally executed the swap while hastily selling the USDR in an attempt to recover locked funds. But this didn’t turn out well, as the user lost their entire funds. Furthermore, a maximal extractable value (MEV) bot leveraged the event to arbitrage $107,000.
