ROSS ULBRICHT LOST $12M ON PUMPFUN...
Ross Ulbricht, or someone with access to his wallets, just accidentally nuked the price of a pumpfun coin sent to him while trying to provide liquidity on Raydium.
Because he initialized the liquidity pool at the wrong price, $1.5M of the token (5% supply) was instantly taken by a MEV Bot, then sold into the existing pool.
Then he did it again and he lost another $10.5M. (35% supply)
Ross Ulbricht’s Solana donation address received 50% of the supply of ROSS (Ross Ulbricht Fund) from the developer last week.
Ross tried to add single-sided liquidity to sell the coins off passively, but accidentally created a pool with Raydium CPMM (Constant-Product Market Maker) instead of CLMM (Concentrated Liquidity Market Maker).
The MEV Bot that took the coins managed to sell them off for over $600K, sending the price down -90% in the process.
Despite losing 40% of the supply, Ross still holds 10% of the token in a separate address, with LP correctly added on Raydium Concentrated Liquidity. (currently worth ~$200K)
3.1M
7.09K
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