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Ross Ulbricht Loses $12 Million, Including $10.5 Million and 35% of Total Supply, Due to Liquidity Pool Error on Pumpfun Token

Ross Ulbricht, known for founding the Silk Road, reportedly lost approximately $12 million due to a liquidity pool error involving the Pumpfun token on the Solana blockchain
By: DeepNewz • January 30, 2025
Ross Ulbricht Loses $12 Million, Including $10.5 Million and 35% of Total Supply, Due to Liquidity Pool Error on Pumpfun Token

Ross Ulbricht, known for founding the Silk Road, reportedly lost approximately $12 million due to a liquidity pool error involving the Pumpfun token on the Solana blockchain. The incident occurred when Ulbricht or someone with access to his wallets misconfigured liquidity pools while attempting to provide liquidity, initializing the pool at an incorrect price. This misstep resulted in a significant loss of funds, with the donation address associated with Ulbricht's wallet losing about $10.5 million, which represents 35% of the total supply of ROSS tokens gifted to the wallet. The total loss from the Pumpfun transaction is estimated at $1.5 million.

This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz.

Ross Ulbricht

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