We collect cookies to analyze our website traffic and performance; we never collect any personal data.Cookies Policy
Accept
Michigan Post
Search
  • Home
  • Trending
  • Michigan
  • World
  • Politics
  • Top Story
  • Business
    • Business
    • Economics
    • Real Estate
    • Startups
    • Autos
    • Crypto & Web 3
  • Tech
  • Lifestyle
    • Lifestyle
    • Food
    • Beauty
    • Art & Books
  • Health
  • Sports
  • Entertainment
  • Education
Reading: Ross Ulbricht’s pockets is dropping tens of millions on Pump Enjoyable memecoins
Share
Font ResizerAa
Michigan PostMichigan Post
Search
  • Home
  • Trending
  • Michigan
  • World
  • Politics
  • Top Story
  • Business
    • Business
    • Economics
    • Real Estate
    • Startups
    • Autos
    • Crypto & Web 3
  • Tech
  • Lifestyle
    • Lifestyle
    • Food
    • Beauty
    • Art & Books
  • Health
  • Sports
  • Entertainment
  • Education
© 2024 | The Michigan Post | All Rights Reserved.
Michigan Post > Blog > Crypto & Web 3 > Ross Ulbricht’s pockets is dropping tens of millions on Pump Enjoyable memecoins
Crypto & Web 3

Ross Ulbricht’s pockets is dropping tens of millions on Pump Enjoyable memecoins

By Editorial Board Published January 30, 2025 2 Min Read
Share
Ross Ulbricht’s pockets is dropping tens of millions on Pump Enjoyable memecoins

Pardoned Silk Highway founder Ross Ulbricht — or any individual who controls his pockets keys — has seemingly misplaced round $12 million on two disastrous trades on memecoin platform Pump Enjoyable.

Ulbricht, who was pardoned by President Donald Trump earlier this month, had been receiving donations, together with Solana (SOL), from the crypto group all through his 10-year jail keep.

Whereas most assumed he’d merely promote these belongings upon his launch, the world discovered right now that he — or somebody who controls his keys — has as an alternative been buying and selling on Pump Enjoyable.

Sadly, the pockets’s proprietor made a catastrophic mistake on at the least two Solana orders and misplaced an estimated $12 million.

To make issues worse for Ulbricht, he misplaced the funds to a classy Maximal Extractable Worth (MEV) bot operator, that means he’s not even capable of declare that he was giving again to his group of supporters.

Ulbricht by chance created a Fixed-Product Market Maker pool, immediately crashing the worth.

In keeping with a report by Arkham, the creator of a memecoin bearing his title, ROSS, donated 50% of its provide to Ulbricht. Ulbricht — or once more, somebody with entry to his personal key — then tried to record that donation for a gradual, orderly, passive sale by posting single-sided liquidity on a well-liked Solana on-chain trade, Raydium. 

Nevertheless, Ulbricht by chance created a Fixed-Product Market Maker pool in two transactions with 80% of his provide, immediately crashing the worth.

Ulbricht’s de facto “market sell order” crashed the worth of ROSS so rapidly that the MEV bot operator on the opposite aspect of the 2 trades was solely capable of make off with about $600,000 of the as soon as multi-million greenback provide.

Ulbright, who isn’t but giving media interviews, hasn’t commented publicly on right now’s Solana or ROSS blunders.

TAGGED:FunlosingmemecoinsmillionspumpRossUlbrichtswallet
Share This Article
Facebook Twitter Email Copy Link Print

HOT NEWS

How I Preserve Internet hosting Inexpensive With out Sacrificing Fashion or Vibes

How I Preserve Internet hosting Inexpensive With out Sacrificing Fashion or Vibes

Lifestyle
July 25, 2025
TalkTalk dials up £100m funding from Ares Administration

TalkTalk dials up £100m funding from Ares Administration

TalkTalk, the telecoms and broadband group, has secured a £100m capital injection from one in…

July 25, 2025
Over 100 MPs signal cross-party letter demanding Starmer recognise Palestine as a state

Over 100 MPs signal cross-party letter demanding Starmer recognise Palestine as a state

Sir Keir Starmer is beneath growing stress to recognise a Palestinian state, with over 100…

July 25, 2025
Over 100 MPs signal cross-party letter demanding Starmer recognise Palestine as a state

Mass cross-party letter calls for Starmer recognises state of Palestine

Sir Keir Starmer is beneath growing strain to recognise a Palestinian state, with MPs signing…

July 25, 2025
Jackson lawmaker needs state funding for the Cascades

Jackson lawmaker needs state funding for the Cascades

LANSING, Mich. (WLNS) -- A state consultant from Jackson needs the state to take a…

July 25, 2025

YOU MAY ALSO LIKE

Crypto change WOO X suspends withdrawals, customers hacked for $14M

Taiwan-based crypto change WOO X has briefly frozen withdrawals after $14 million price of crypto was stolen from 9 customers…

Crypto & Web 3
July 24, 2025

Stablecoins increase in 2025 — USDT, USDC and USD1 dominate

2025 has been a banner yr for stablecoins. A brand new regulatory framework has been handed in america, and even…

Crypto & Web 3
July 24, 2025

Largest Solana treasury firm falls under 1X mNAV

Because the bitcoin (BTC) treasury firm mania has deflated from its Might 12 peak, altcoin treasury shares suffered even worse.…

Crypto & Web 3
July 24, 2025

Roman Storm says he is been ‘financially cancelled’ after payroll agency axe

Twister Money founder Roman Storm claims he’s been “financially cancelled” after payroll agency Gusto closed his account amid his ongoing…

Crypto & Web 3
July 24, 2025

Welcome to Michigan Post, an esteemed publication of the Enspirers News Group. As a beacon of excellence in journalism, Michigan Post is committed to delivering unfiltered and comprehensive news coverage on World News, Politics, Business, Tech, and beyond.

Company

  • About Us
  • Newsroom Policies & Standards
  • Diversity & Inclusion
  • Careers
  • Media & Community Relations
  • Accessibility Statement

Contact Us

  • Contact Us
  • Contact Customer Care
  • Advertise
  • Licensing & Syndication
  • Request a Correction
  • Contact the Newsroom
  • Send a News Tip
  • Report a Vulnerability

Term of Use

  • Digital Products Terms of Sale
  • Terms of Service
  • Privacy Policy
  • Cookie Settings
  • Submissions & Discussion Policy
  • RSS Terms of Service
  • Ad Choices

© 2024 | The Michigan Post | All Rights Reserved

Welcome Back!

Sign in to your account

Lost your password?