On March 12, 2026, someone swapped $50.4 million in aEthUSDT for AAVE tokens through the Aave interface. They received $36,000 worth of AAVE. The remaining $44 million was extracted by MEV bots in what may be the most expensive single-transaction slippage event in DeFi history.

This wasn't a smart contract exploit. No code was hacked. The...