Panic! This User Swapped $131k in USDR for $0 USDC Amid Depeg

Updated

On October 10, a user received quite a surprise when they accidentally swapped $131,350 worth of the Real USD stablecoin (USDR) for mere fractional cents in USDC in a “fat finger” trade — an action which occurs when someone inadvertently provides the wrong transaction details for a digital asset. This event follows USDR losing its peg to the U.S. dollar on Wednesday which caused it to plunge by 50%.
The decentralized exchange (DEX) aggregator, OceanSwap, transferred those USDR for 0.0001 USDC alongside a pitiful amount of gas fees (0.0012 BNB totaling $0.25). Details on the incident were gathered from evaluators on X (formerly Twitter). Interestingly, the initiator of the stablecoin, TangibleDAO, had intended on USDR acting in a new yoke of currency with the productivity of 8-15% per year.
The market capitalization for USDR is $45 million and observations provide that nearly all the 2017 amassed DAI (totaling $11.8 million) were withdrawn from USDR’s backed pool of liquid assets and real estate possessions. As of Now, many advise users and collectors to responsibly conduct their trades and focus on long-term sums as a method of safeguarding one’s money and taking caution via dollar-cost averaging. USDR has currently stabilized due to direct influence from its inherent assets and after taco its crash this stablecoin’s value has settled near $0.58 according to CoinFomania .

Robert Wilson author
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