Aave Releases Post-Mortem on "Buy AAVE" Incident Causing $50 Million in Losses: Core Issue Was Insufficient Market Liquidity, Not Slippage
Aave Releases Postmortem on March 12 Swap Event
On March 12, 2026, a user executed a token swap via the CoW Swap router integrated into the Aave interface, attempting to exchange 50,432,688 aEthUSDT (≈$50.43 million) for aEthAAVE. The order was disproportionately large relative to available market liquidity, leading CoW Swap to provide an extremely unfavorable quote—which the user confirmed.
Notably, the Aave protocol itself was never at risk, as the swap occurred outside the protocol via the third-party service. The affected user has not yet contacted the Aave team.
A key takeaway: The issue stemmed from insufficient market liquidity (not slippage). Insufficient liquidity means the market couldn’t fulfill the large order at the target price, causing severe price deviation. The user’s order far exceeded available liquidity, with CoW Swap’s quote being 99.9% lower than the expected market clearing price. The negative outcome resulted from the user confirming the quote, not pric
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Sky has approved 70 million USDS to support the remaining launch phase of the Sky Agent.
On March 15, Sky Protocol (formerly MakerDAO) announced its Sky Governance Committee has approved the allocation of approximately $70 million in USDS from Genesis Capital to support the remaining bootstrapping phase of Sky Agent. This marks a key step toward building an independent capital allocator network to back the Sky Savings Rate.
The breakdown is as follows: $10 million to Keel; $25 million to Amatsu (a new execution Agent); $25 million to Ozone (another new execution Agent); and $10 million to an undisclosed Sky Agent.
All allocations will go into effect after voting concludes on March 26, with this Genesis Capital distribution being the final one. The funds remain under protocol control, held in a separate sub-account managed by Sky Governance. Once an Agent launches its token, the allocated funds will be transferred to that Agent’s operational treasury.
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Argentinian President Milae Accused of Profiting $5 Million Through Promoting the LIBRA Token
On March 15, Argentine outlet El Destape reported that forensic experts have uncovered an unpublicized document from intermediary Mauricio Novelli’s phone detailing a $5 million payment agreement tied to the Libra token scam—with funds primarily targeting Argentine President Milae.
The document outlines a three-part plan:
- A $1.5 million advance (in tokens or cash);
- A second $1.5 million installment, contingent on Milae tweeting that Hayden Davis (CEO of Kelsier Ventures) is her advisor;
- A final $2 million payment, contingent on Milae and her sister Karina signing an in-person contract for blockchain/AI government consulting.
Dated February 11, 2025, the document was created just three days before Milae’s related tweets and the launch of the Libra token.
Call logs have also raised eyebrows: Forensic reports show Milae had multiple calls with Novelli minutes before and after the tweet, plus frequent contact with Karina. After the token’s price crashed that evening, M
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Bitwise CIO: If Bitcoin Captures Part of Gold and Sovereign Debt's Value Storage Market, It Could Reach $1 Million
March 15
Per CoinDesk, Bitwise Chief Investment Officer Matt Hougan reaffirmed his $1 million Bitcoin price target this week. In a new report, he noted Bitcoin’s long-term upside hinges on the market share it can grab in the global store-of-value market.
Hougan said the global store-of-value market (including gold, government bonds and other defensive assets) has grown from roughly $2.5 trillion in 2004 to nearly $40 trillion today, with Bitcoin holding just ~4% of that market currently. Under current conditions, if Bitcoin could capture roughly half of that market, its price could hit ~$1 million in about a decade. He acknowledged: “A $1 million price sounds outlandish—it would mean Bitcoin needs to rise another 14x from its current level.”
While many analysts agree with this trajectory, they differ on the timeline. Quantum Economics founder Mati Greenspan noted: “Geopolitical tensions have boosted Bitcoin’s narrative—investors are seeking neutral store-of-value assets amid un
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A whale was attacked in Venus after the pump and transferred 3,667,000 THE to Binance, making a profit of $729,000
On March 15th, on-chain analyst Ai Yi (@ai_9684xtpa) noted that a crypto whale accumulated 3.667 million THE tokens one month prior at an average price of $0.2693.
After the token’s price spiked following a flash loan attack on Venus by an unknown attacker, the whale transferred all its THE tokens to Binance.
If the whale sells the tokens, it stands to net a $729,000 profit.
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Venus Protocol: Anomalistic Activity Detected in THE Pool, Actively Investigating
On March 15, Venus Protocol announced:
“We’ve detected abnormal activity in the THE liquidity pool and are actively investigating. So far, only the THE and CAKE markets appear affected. We’ll share the latest updates as the investigation progresses.”
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