$MAGIC skyrocketed today, and we found an address that spent 100K $USDT on @1inch, but only received 22K $MAGIC in the end (each token was priced at $4.54, with a total value of $11K).
ta's address: 0xe559d25444a0df67c800e8a4f0cfed1b4a22926c (0xe5)
This pushed the price of $MAGIC in the $MAGIC/$WETH liquidity pool on Uniswap on ETH to over $3.5
Then many MEV arbitrage robots detected the price fluctuations, took actions, and earned a lot of income from them. In this trading pair, there is MEV Bot:
- Sell 584 $MAGIC and receive 12.8 $WETH
- Sell 257 $MAGIC and receive 4.48 $WETH
Later (0xe5) realized this and sold some $MAGIC on #1inch, but it was still far from making up for the losses it caused.
So…please remember to set your slippage tolerance and research how each swap aggregator works.
This address can be tracked on http://watchers.pro here: https://cutt.ly/u0sSIPB
