An investor swapped $2 million USDC on KyberSwap and received $0.05 in USDT after misreading the transaction. The Kyber Network team is working with the bot creator to recover the funds. The incident shows why you need to verify every detail before confirming large trades.
This unlucky investor shelled out $2 million of his USDC. He was trying to get out of it fast and get into USDT, but he shelled out $2 million and only got 5 cents. How did this happen, and why should you not do this? First of all, you should never panic in a situation like this. This guy clearly panicked, and here's what he did. He used a DeFi platform called KyberSwap and basically panicked and read a bunch of stuff wrong and click confirm and ended up shelling out $2 million to only get 5 cents back. Now, the Kyber Network team has been extremely helpful to him. They are in contact with him, they're contacting the bot creator, and they're actually trying to help recover his funds and see what they can do. But just do not panic. Don't do stuff like this where you just quickly try to exit something. Do your research, stay calm, and you'll be fine.
