The trader was able to exchange 1 SPK for $ 19,687 after the launch of a token trading, almost completely devastating the liquidity pool. This was stated by Lookonchain analysts.
Experts explained that this became possible due to the error of the TEOCHEW.ETH user, who created the SPK/USDT pool before the auction and provided 19,998 USDT as unilateral liquidity. He wanted to set the course by which 1 USDT is 19.93 SPK, but confused the order and indicated the opposite – 1 SPK costs 19.93 USDT.
As a result, the trader used the high course and received almost all the USDT liquidity in exchange for one token. At the time of the transaction, the cost of SPK was $ 0.05.
When TeoChew.eth noticed a mistake, most of the assets have already been displayed. He managed to return only $ 32.92 and 4.69 SPK. General losses amounted to $ 19,965.
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Source: Cryptocurrency
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