A trader appears to have executed one of the most disastrous on-chain swaps in recent memory, turning roughly $50 million worth of assets into just about $36,000 in a single Ethereum transaction. Blockchain data from Etherscan shows that the wallet first burned around 50. 43 million aEthUSDT—an interest-bearing version of USDT used within the Aave lending protocol—to withdraw the same amount of regular USDT. The funds were then routed through a trade executed via CoW Protocol, a platform designed to aggregate liquidity and find optimal trade routes across decentralized exchanges