
A technical deep-dive into the Venus exploit on BNB Chain and Aave’s $50M swap incident, linking failure modes to MEV/slippage mechanics and the product fixes being rolled out.

In March 2026 a $50M swap routed via CoW Protocol and AAVE became roughly $36K — a catastrophic slippage event with lessons for traders, custodians, and protocol designers. This post‑mortem unpacks what went wrong, the MEV and settlement mechanics involved, and provides a prevention playbook and institutional checklist.