Are you planning to sell your USDC amid market uncertainty? Don't make this mistake.
On-chain investigations revealed that the user had stored the assets in a liquidity pool — a popular method to earn cryptocurrencies. The user could have sold his LP tokens for USDT for a 6% slippage. However, they chose to go for a ‘questionable’ method. As explained by BowTiedPickle:
Given the race against time, the USDC investor forgot to set his slippage, which allows investors to set an exact price of the token for the transaction to go through. He further explained the various nuances that eventually led to an MEV bot netting $2.045 million in profit after paying $45 in gas and $39k in MEV bribes.
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