"Silk Road" founder Ross related wallet lost about $12 million in Raydium due to wrong operation
2025-01-30 15:01:15
According to Arkham, Ross Ulbricht or someone with access to his wallet caused significant losses when Raydium provided liquidity by incorrectly setting the initial price of the liquidity pool.
Specifically, $1.50 million (5% of the total token supply) was immediately arbitraged by the MEV robot and dumped in the existing pool. This was followed by a loss of about $10.50 million (35% of the total token supply) in the second operation.
It is reported that Ross Ulbricht received a 50% supply of ROSS (Ross Ulbricht Fund) tokens from developers last week. Despite losing 40% of the token supply, Ross still holds 10% of the tokens at another address and has correctly added liquidity in the Raydium centralized liquidity pool.
Specifically, $1.50 million (5% of the total token supply) was immediately arbitraged by the MEV robot and dumped in the existing pool. This was followed by a loss of about $10.50 million (35% of the total token supply) in the second operation.
It is reported that Ross Ulbricht received a 50% supply of ROSS (Ross Ulbricht Fund) tokens from developers last week. Despite losing 40% of the token supply, Ross still holds 10% of the tokens at another address and has correctly added liquidity in the Raydium centralized liquidity pool.
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