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Coin Edition 2025-01-31 06:07:56

Ross Ulbricht’s $12M Memecoin Mistake—How a Trading Error Cost Him Big

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 .

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