Aave and CoW Release Divergent Reports on a $50 Million Slippage Event, Both Failing to Mention a $44 Million MEV Profit

BlockBeats News, March 16th, Aave and CoW Swap released diametrically opposed incident analysis reports on the "$50 Million Slippage-Related Trade Loss" event. Aave's core statement is that the event was caused by insufficient market liquidity, not slippage. User orders far exceeded available market liquidity, CoW Swap's quote was 99.9% lower than the expected market clearing price, and users confirmed acceptance of that quote.

CoW Swap, on the other hand, pointed out that our gas limit was actually outdated, the optimal solver won two auctions but never submitted any transactions to the chain, and transactions may have leaked from a private mempool. Checkbox should not be the only security safeguard.

It is worth noting that both reports did not mention the MEV bot that extracted about $44 million from this transaction.