Whale Forced to Sell at 1.8% Discount After Aave Paused WETH Withdrawals, Loses $720,000 Before Migrating to Spark
According to on-chain analyst Ember (@EmberCN), a whale/institution that invested $500 million in BTC and ETH in early February—buying at the bottom—retrieved 17,400 ETH from Aave by directly swapping its deposit receipt (aEthWETH) for ETH at a ~1.8% discount, resulting in a loss of 310 ETH (approximately $720,000). The ETH obtained was then redeposited into Spark.
