Ross Ulbricht’s $12M Memecoin Mistake—How a Trading Error Cost Him Big
- Ross Ulbricht’s memecoin venture resulted in a $12 million loss
- While attempting to provide liquidity on Raydium, he accidentally triggered a price drop of a Pumpfun coin
- He still holds 10% of the ROSS tokens
Apparently, Ross Ulbricht suffered a $12 million loss from a Pump.fun memecoin when he inadvertently triggered a price drop while attempting to provide liquidity on Raydium.
Due to an incorrectly initialized liquidity pool price, an MEV bot instantly seized $1.5 million worth of the token (5% of the supply) and sold it. A second error triggered another $10.5 million loss (35% of supply).
How the Mistake Happened
Last week, Ross Ulbricht’s Solana donation address received 50% of the ROSS (Ross Ulbricht Fund) supply from the developer. His attempt to passively sell these tokens by adding single-sided liquidity backfired when he mistakenly created a pool with Raydium’s Constant-Product Market Maker (CPMM) instead of the intended Concentrated Liquidity Market Maker (CLMM).
That mistake opened the door for an MEV bot, which swooped in, liquidated its holdings, and profited $600,000—sending the token price plunging 90%. Even after losing 40% of supp…
The post Ross Ulbricht’s $12M Memecoin Mistake—How a Trading Error Cost Him Big appeared first on Coin Edition.
Read More
Tesla (TSLA) Market Share & Trump Opposition Send Stock Below $305
Trump’s Truth Social Takes Next Step Toward Launching Bitcoin ETF With S-1 Filing
Ross Ulbricht’s $12M Memecoin Mistake—How a Trading Error Cost Him Big
- Ross Ulbricht’s memecoin venture resulted in a $12 million loss
- While attempting to provide liquidity on Raydium, he accidentally triggered a price drop of a Pumpfun coin
- He still holds 10% of the ROSS tokens
Apparently, Ross Ulbricht suffered a $12 million loss from a Pump.fun memecoin when he inadvertently triggered a price drop while attempting to provide liquidity on Raydium.
Due to an incorrectly initialized liquidity pool price, an MEV bot instantly seized $1.5 million worth of the token (5% of the supply) and sold it. A second error triggered another $10.5 million loss (35% of supply).
How the Mistake Happened
Last week, Ross Ulbricht’s Solana donation address received 50% of the ROSS (Ross Ulbricht Fund) supply from the developer. His attempt to passively sell these tokens by adding single-sided liquidity backfired when he mistakenly created a pool with Raydium’s Constant-Product Market Maker (CPMM) instead of the intended Concentrated Liquidity Market Maker (CLMM).
That mistake opened the door for an MEV bot, which swooped in, liquidated its holdings, and profited $600,000—sending the token price plunging 90%. Even after losing 40% of supp…
The post Ross Ulbricht’s $12M Memecoin Mistake—How a Trading Error Cost Him Big appeared first on Coin Edition.
Read More
Tesla (TSLA) Market Share & Trump Opposition Send Stock Below $305