MemeCoinError
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🔥 How the Silk Road Founder Lost $12 Million in 2 Days Due to a Meme Coin Error 🔥
Ross Ulbricht, the founder of the infamous Silk Road marketplace, suffered a massive $12 million loss after a trading error with his newly launched meme coin, ROSS. This came just after President Trump pardoned him. According to Arkham Intelligence, a blockchain analytics firm, Ulbricht made the mistake while trying to provide liquidity on Raydium, a decentralized exchange (DEX).
🔥 The problem? The ROSS liquidity pool was set at the wrong price, allowing an MEV bot to immediately acquire $1.5 million worth of the token, representing 5% of its total supply. The bot then sold these tokens for a quick profit.
🔥 Unfortunately, Ulbricht’s wallet repeated the same mistake, leading to an additional loss of $10.5 million—about 35% of the token’s supply. A huge blow to the project!
#SilkRoad #RossUlbricht #MemeCoinError #CryptoLoss #Blockchain
Ross Ulbricht, the founder of the infamous Silk Road marketplace, suffered a massive $12 million loss after a trading error with his newly launched meme coin, ROSS. This came just after President Trump pardoned him. According to Arkham Intelligence, a blockchain analytics firm, Ulbricht made the mistake while trying to provide liquidity on Raydium, a decentralized exchange (DEX).
🔥 The problem? The ROSS liquidity pool was set at the wrong price, allowing an MEV bot to immediately acquire $1.5 million worth of the token, representing 5% of its total supply. The bot then sold these tokens for a quick profit.
🔥 Unfortunately, Ulbricht’s wallet repeated the same mistake, leading to an additional loss of $10.5 million—about 35% of the token’s supply. A huge blow to the project!
#SilkRoad #RossUlbricht #MemeCoinError #CryptoLoss #Blockchain
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