$2M swapped into $14K. Not a hack — a routing bug + a backrun bot. A victim's trade dumped ~1,117 ETH into a thin AVAIL/WETH pool, buying AVAIL at ~120× its real price. A same-block backrunner sold a sliver of AVAIL back in, drained ~1,072 WETH — and paid most of it to the block builder. On LIKWID, this class of MEV is priced out by design 🧵👇 1. Root cause: fragmented, low-liquidity side pools. A router can shove size into a thin pool and eat catastrophic slippage. That self-inflicted mispricing is free money — the backrunner just sells the asset back in at the real price and walks off with the WETH. 2. Likwid puts spot + leverage in ONE native pool per token. No thin side-pool to route into. No oracle to lag or manipulate — price comes straight from reserves, and borrowed size stays "on the books" as mirror reserves, so lending can't fake the quote. 3. The killer: dynamic fees scale cubically with how hard you shove the price. • ≤10% move → 0.3% base • 20% → ~8× • ~70%+ → capped at 99% A trade that yanks price 120× would hit the 99% cap. The backrun's arb margin evaporates — predatory MEV becomes too expensive to bother. 4. The takeaway from this $2M loss: slippage + MEV aren't edge cases. They're structural. Likwid taxes the exact behavior that makes these attacks profitable — at the pool level, no oracle required. 👉 https://t.co/p3vsC8TEJC #DeFi #MEV