Cardano Wallet Suffered $6 Million Loss

A Major Transaction Occurred in Cardano

A passive Cardano wallet executed a transaction resulting in a $6 million loss. This transaction occurred due to excessive slippage. The wallet transferred 847,695 USDA in exchange for 14.4 million ADA.

Sudden Increase in Stablecoin Price

Following the transaction, a temporary increase in the price of the USDA stablecoin was observed. This situation highlights the risks associated with executing large transactions in illiquid markets when slippage controls are not implemented.