🚨 Binance Hacker Makes a $5 Million Mistake on Uniswap
Sometimes, even a sophisticated crypto attacker can make a costly mistake. And this time, the blockchain tells a rather unbelievable story.
According to on-chain monitoring platform Lookonchain, a wallet linked to the Binance hacker attempted to sell 908,793 PROM tokens, reportedly worth around $5 million.
But there was a problem.
The attacker sent the tokens into a nearly empty Uniswap V2 liquidity pool. Instead of receiving millions of dollars, the transaction returned just 0.0316 ETH, worth approximately $71.
Think about that for a moment. Nearly $5 million in estimated token value went into a swap, but the actual amount received was barely enough to cover a small everyday expense.
The incident highlights something that is easy to overlook in crypto: a token's displayed market value does not guarantee that someone can sell a large amount at that price.
Liquidity matters. When a pool is nearly empty, a large trade can experience extreme slippage, leaving the seller with almost nothing.
The transaction is publicly visible on Ethereum, and Lookonchain has shared the details of the swap.
For me, this is a reminder that blockchain transactions are unforgiving. There is no traditional customer support desk to reverse a mistake like this.
Even a hacker holding millions in tokens can lose almost all their value in a single transaction.
In crypto, the execution matters just as much as the balance.
Source: Lookonchain
Sometimes, even a sophisticated crypto attacker can make a costly mistake. And this time, the blockchain tells a rather unbelievable story.
According to on-chain monitoring platform Lookonchain, a wallet linked to the Binance hacker attempted to sell 908,793 PROM tokens, reportedly worth around $5 million.
But there was a problem.
The attacker sent the tokens into a nearly empty Uniswap V2 liquidity pool. Instead of receiving millions of dollars, the transaction returned just 0.0316 ETH, worth approximately $71.
Think about that for a moment. Nearly $5 million in estimated token value went into a swap, but the actual amount received was barely enough to cover a small everyday expense.
The incident highlights something that is easy to overlook in crypto: a token's displayed market value does not guarantee that someone can sell a large amount at that price.
Liquidity matters. When a pool is nearly empty, a large trade can experience extreme slippage, leaving the seller with almost nothing.
The transaction is publicly visible on Ethereum, and Lookonchain has shared the details of the swap.
For me, this is a reminder that blockchain transactions are unforgiving. There is no traditional customer support desk to reverse a mistake like this.
Even a hacker holding millions in tokens can lose almost all their value in a single transaction.
In crypto, the execution matters just as much as the balance.
Source: Lookonchain
