$54k RELIQT/WETH Pool on Base Drops To $3
The RELIQT/WETH trading venue on the Base network experienced a severe reduction in available funds. Total capital within the contract fell to just three dollars after reaching an initial high point.
A specific automated market maker for RELIQT and WETH on Base has effectively ceased normal operation. The event began when the total value locked in the contract plummeted from a recorded maximum of $54,779 to merely $3. This drastic shift indicates that users can no longer trade at meaningful levels within this venue.
The Event Details
On-chain records show the incident was first detected on June 15, 2026. At that moment, the pool held a substantial amount of capital before losing it entirely to an external address controlled by wallet 0xf1aaa023.... The current health score for this contract is rated at 20 out of 100, signaling significant distress.
Liquidity Analysis
The drawdown represents a complete loss of utility. When the drop was calculated as 100%, it meant every single dollar previously available to traders had been removed from circulation. Such an extreme figure usually occurs when one party drains funds larger than what remains in the pool, leaving behind only negligible dust.
Implications for Traders
- The contract address 0xb7a091d... is now flagged as inactive.
- No new capital can enter a venue that holds almost zero reserves.
This situation highlights the volatility of early-stage tokens on Layer 2 networks. While risk flags currently show no technical errors, the rapid exit suggests an intentional removal of funds rather than organic market movement.
Current Status
The pool is effectively dead for practical purposes. Investors who held positions in this pair prior to June 15 likely faced total loss or were unable to execute trades as liquidity vanished instantly. The event serves as a stark reminder of the risks associated with low-cap tokens on new chains like Base.