Dealer swaps 131K stablecoins for $0 throughout USDR depeg

Through the disaster on Oct. 11 involving real-estate-backed U.S. greenback stablecoin Actual USD (USDR), a dealer seems to have swapped 131,350 USDR for 0 (USDC), leading to a whole loss on funding.

In accordance with the Oct. 12 report by blockchain analytics agency Lookonchain, the swap occurred on the BNB Chain via the decentralized trade (DEX) OpenOcean, at a time when USDR depegged from par worth by almost 50% on account of a liquidity crunch. A maximal extractable worth (MEV) bot subsequently picked up the discrepancy, netting a complete of $107,002 in income via an arbitrage commerce.

Proceed Studying on Coin Telegraph