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- #Gate 2025 Semi-Year Community Gala# voting is in progress! 🔥
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Ross Ulbricht, the Founder of Silk Road, Pardoned by Trump, "Accidentally" Lost $12 Million in This Memecoin!
Ross Ulbricht, the founder of Silk Road, known as a hero by some and a criminal by others, suffered an unfortunate loss in the donations he collected after being pardoned by Donald Trump.
According to Onchain data, Ross Ulbricht lost a total of 12 million dollars from a memecoin on Pumpfun. Ulbricht or the person managing cryptocurrency wallets on his behalf accidentally caused the price of the memecoin sent to him as a donation to plummet. The incident occurred while liquidity was being added to the token on Raydium.
After the launch of the liquidity pool started at the wrong price, tokens worth 1.5 million dollars, or 5% of the supply, were instantly purchased by a MEV bot and sold on the other available pool.
Right after that, the bot in question repeated the same process and this time caused a loss of 10.5 million dollars, which is 35% of the token supply.
Ross Ulbricht's donation address on the Solana network received 50% of the ROSS memecoin as a gift from developers last week.
Ulbricht wanted to add one-sided liquidity again in order to passively sell the tokens, but made a mistake by creating a pool with Raydium CPMM (Constant Product Market Maker) instead of CLMM (Concentrated Liquidity Market Maker).
The MEV Bot that bought the tokens managed to sell them at a price of over 600 thousand dollars and reduced the price by -90% during this process.
Despite losing 40% of its supply, Ross continues to hold 10% of the token in a separate address with LP that was properly added to Raydium Concentrated Liquidity. These tokens are currently worth approximately $200,000.