Gate.io Exchange User Commits Horrible $400,000 DeFi Blunder, Losing Tokens Forever

It can be argued that a key barrier to the adoption of decentralized finance (DeFi) applications and seemingly rewarding yield farming opportunities is how difficult it is for the average investor to understand how they work. A recent irreversible error from a user of popular crypto exchange Gate.io has further shown just how easy it is to lose money in DeFi without expert guidance, or at least basic knowledge of how to execute transactions using DeFi apps. Spotted by one of SushiSwap’s anonymous developers, Chef Nomi, the error pinpointedly involves the sending of $400,000 worth of USDT from a Gate.io