PANews reported on November 17th that, according to blockchain detective ZachXBT, a Cardano user exchanged 14.4 million ADA (approximately $6.9 million) for 847,000 USDA (a USD stablecoin on Cardano) about two hours ago. Due to extremely low liquidity in the pool, the transaction caused a short-term surge in the price of USDA, resulting in a loss of approximately $6.05 million for the user. It is claimed that these funds had been idle for nearly five years.PANews reported on November 17th that, according to blockchain detective ZachXBT, a Cardano user exchanged 14.4 million ADA (approximately $6.9 million) for 847,000 USDA (a USD stablecoin on Cardano) about two hours ago. Due to extremely low liquidity in the pool, the transaction caused a short-term surge in the price of USDA, resulting in a loss of approximately $6.05 million for the user. It is claimed that these funds had been idle for nearly five years.
ZachXBT: Cardano users lose over $6 million due to low-liquidity trading.
PANews reported on November 17th that, according to blockchain detective ZachXBT, a Cardano user exchanged 14.4 million ADA (approximately $6.9 million) for 847,000 USDA (a USD stablecoin on Cardano) about two hours ago. Due to extremely low liquidity in the pool, the transaction caused a short-term surge in the price of USDA, resulting in a loss of approximately $6.05 million for the user. It is claimed that these funds had been idle for nearly five years.
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