Silk Road Founder's Address Loses Approximately $12 Million Due to a Misoperation on Raydium

BlockBeats News, January 30th, according to Arkham monitoring, Silk Road founder Ross Ulbricht, who was pardoned by Trump (or someone with access to his wallet), suffered significant losses due to a misconfigured initial price setting of the liquidity pool on Raydium. $1.5 million (5% of the total token supply) was immediately front-run by a MEV bot and sold in the existing pool. Subsequently, approximately $10.5 million (35% of the total token supply) was lost in a second transaction.

Reportedly, Ross Ulbricht received 50% of the ROSS (Ross Ulbricht Fund) token supply from the developers last week. Despite losing 40% of the token supply in the mishap, Ross still holds 10% of the tokens in another address and has correctly added liquidity to a centralized pool on Raydium.