1 Feb 2025
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Crypto wallets of Ross Ulbricht, the recently pardoned founder of Silk Road, incurred a $12 million loss due to a pricing error involving ROSS, a fan-created memecoin, on the Raydium platform. The wallets mistakenly set up liquidity at an incorrect price, enabling an MEV bot to swiftly purchase and dump 40% of the token supply. This triggered a 90% crash in the value of ROSS. Despite the significant loss, the wallets still retain 10% of the token supply, valued at approximately $200,000


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