Statement from CoW Protocol: Earlier today, a trader attempted to swap 50M aEthUSDT for aEthAAVE through Aave's swap interface, which is powered by CoW Protocol. Despite clear warnings that showed the user they would lose nearly all of the value of their transaction, and despite needing to explicitly opt into the trade after seeing the warning, the user chose to proceed with their swap. It is important to point out that CoW Protocol is a DEX aggregator that routes transactions through nearly every major public and private liquidity source. No DEX, DEX aggregator, public liquidity pool, or private liquidity pool (or combination thereof) would have been able to fill this trade at anywhere near a reasonable price. Preventing users from making trades removes choice and can lead to terrible outcomes in some situations (e.g. a market crash). That said, trades like these show that DeFi UX still isn’t where it needs to be to protect all users. As a team, we are now reviewing how we balance strong safeguards with preserving user autonomy. It goes without saying that we will also refund any fees sent to CoW DAO as a result of this transaction. We will keep the community posted as new information comes to light.

@shui_fps

@shui_fps If this happened in the CoW Swap UI, the trader would also have seen this after tapping Swap: