Lookonchain reported that the Binance attacker sold 908,793 PROM, valued at approximately $5 million, in an almost empty liquidity pool and received just $71 in return.
In the transaction shared by the on-chain analytics platform, a wallet linked to the attacker swapped 908,793 PROM tokens through Uniswap V2. The sale yielded only 0.0316 ETH; Lookonchain said that amount was worth approximately $71 at the time of its post.
The platform described the amount received for tokens valued at approximately $5 million as a costly mistake by the attacker while selling altcoins, and shared the transaction record on Etherscan.
Why did tokens worth millions of dollars bring in just $71?
The key detail in the transaction was that the Uniswap V2 pool used for the sale was almost empty. In pools like this, the amount a trader can receive depends not only on a token’s estimated market value, but also on how much of the other asset is available on the other side of the swap. Selling a large amount of tokens into a pool with very little liquidity can sharply drive down the transaction price.
That is why the gap between the approximately $5 million valuation and the $71 received by the wallet reflects the conditions of this particular swap; it does not mean that PROM’s price fell by the same amount across all markets.
We previously reported on the Binance attacker’s altcoin sales and the risk posed by the assets they hold. What stands out in the latest transaction is not so much the size of the sale as the unusually small amount received for tokens valued at millions of dollars.
Not investment advice.