The incident involved ROSS, a token created by supporters to mark Ulbricht’s release from prison on January 21. The token was launched on Pump.fun, a Solana-based trading platform, and half of its supply was sent to a Solana donation address linked to Ulbricht last week.
Arkham reported that while trying to add liquidity to Raydium, the wallet initialized the pool at the wrong price. This allowed a Maximal Extractable Value (MEV) bot to immediately seize $1.5 million worth of ROSS and sell it into the market. A second attempt resulted in a larger loss, with the bot acquiring another $10.5 million worth of the token.
Does Ross Ulbricht Own The Wallet?
It remains unclear whether Ulbricht himself controls the wallets involved. If he does, the mistake could highlight a struggle to navigate the current crypto landscape after spending 11 years in prison. While he built one of Bitcoin’s earliest marketplaces, modern trading tools and liquidity operations have become more complex.
Despite his time behind bars, he has remained active on social media through his official X (formerly Twitter) account.
Read more: Kraken Reactivates Crypto Staking for The US Market
Ulbricht’s case remains a focal point for the “Free Ross” campaign, which advocates for his release and rehabilitation. While some view him as a pioneer in cryptocurrency and online privacy, others continue to associate him with Silk Road’s illicit activities.
