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About $5 Million in PROM Returned About $71 in Uniswap V2 Swap

Lookonchain attributed the wallet to the Binance hacker. It swapped 908,793 PROM through a Uniswap V2 pool with almost no liquidity and received 0.0316 Ether (ETH), worth about $71.

Updated 1 min read
An editorial graphic compares a large token input with a small Ether output in a shallow swap pool / TokenPost.ai (macro)
An editorial graphic compares a large token input with a small Ether output in a shallow swap pool / TokenPost.ai (macro)

Lookonchain attributed the wallet to the Binance hacker. It swapped 908,793 PROM through a Uniswap V2 pool with almost no liquidity, receiving 0.0316 ETH.

The PROM amount was estimated at about $5 million. That was the reported value of the tokens offered; the $71 valuation applied to the ETH received. The figures describe opposite sides of the swap, rather than two estimates of a single payment.

The difference reflects slippage, the effect limited pool liquidity can have on the price a trader gets. The 0.0316 ETH output reflected the pool’s limited liquidity, not the PROM valuation.

Liquidity refers to the assets available in a pool for swaps. When little is available, a large trade can receive a sharply reduced output.

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