An Unlucky Crypto Investor Exchanges R$663,000 for R$0.00 With One Wrong Click

In an episode that could be labeled as the “Oops of the year” in the cryptocurrency market, an unknown investor lost approximately $131,000 663 thousand reaisafter panicking over the collapse of a stablecoin and desperately trying to exchange the asset for another currency.

The clumsy investor, probably with fingers that were a little more nimble (and bigger) than they should be, exchanged $131,000 worth of wUSDR tokens for, well… something worth less than a grain of earth, on the OceanSwap platform .

The mess that resulted in the loss of over half a million reais was revealed by the user rack fencer on X (Twitter). According to him, the unlucky investor not only exchanged 131,350 wUSDR tokens for 0.0001 USDC, but also spent R$ 1 in fees to carry out the transaction, giving new meaning to the phrase “icing on the cake” .

Who needs R$663,000 when you can get R$0.0001?

According to Lookonchain, a company that analyzes transactions on the blockchains of the major cryptocurrencies on the market, the investor may have panicked over the fall of the USDR stablecoin and ended up accidentally exchanging the money for 0 USDC.

In other words, the “magic” exchange happened at the exact moment the stablecoin happened Real USD decided to cosplay as a free falling rock.

The USDR token, which claims to be backed by real estate assets, has seen a significant decline over the past seven days, and a wave of selling is suspected to have destabilized the price of the currency, just as happened with Terra (Luna) in 2022 ..

According to The Block, approximately $11.8 million of DAI, which served as collateral for the stablecoin, was consumed in the sale, leaving the project without liquidity.

Despite the volatility, the USDR token made a partial recovery, fluctuating from US$0.51 to US$0.68 on Thursday afternoon (12) before falling back to US$0.57, according to data from CoinMarketCap.

USDR drops (Image: CoinMarketCap)
USDR drops (Image: CoinMarketCap)

According to TangibleDAOthe team behind the USDR token, the drop occurred after a surge in sales drained liquidity from the project’s treasury reserves.

In a statement on Twitter (or

They also promised to compensate investors and announced plans to discontinue USDR and redeem the tokens in circulation.

Meanwhile, the clumsy club pioneer who exchanged his thousands of tokens for nothing has nothing to do as these types of transactions cannot be undone.

It is worth remembering that these types of events are not rare, even in August this year, as first-hand evidence shows Livecoinsanother investor sent 2,500 ETH (R$22.8 million) to an Ethereum address that no one has control over, i.e. the amount was ‘thrown in the trash’ and cannot be recovered.

If anything, the event can serve as a lesson to others: when a transaction is made with cryptocurrencies, there is no need to be cautious.

Source: Live Coins