According to ChainCatcher, Ethereum co-founder Vitalik Buterin responded to a Twitter user's suggestion to stop selling ETH, saying: "Yesterday's ETH sell-off was initiated by a biodefense organization I funded and was triggered by an automatic CoW Swap TWAP order set as early as August 29. This is the last order."

It is reported that the time-weighted average price (TWAP) order launched by DEX aggregator CoW Swap allows traders to spread transactions over a specified time period to smooth market price fluctuations in order to obtain positions at average market prices.