Ross Ulbricht’s Crypto Wallet Loses $12 Million Due to Trading Errors

According to Arkham Intelligence, crypto wallets linked to Ross Ulbricht lost $12 million due to a trading error involving the ROSS meme coin. The incident occurred after Ulbricht was pardoned by US President Donald Trump.

Key Points on ROSS Token Volatility

A fan token named ROSS was created following Trump's pardon of Ulbricht.
Ulbricht or his wallet manager mistakenly initialized a liquidity pool at an incorrect price on Raydium.
This caused 5% of the ROSS supply (valued at $1.5 million) to be acquired and sold by a MEV bot.
The same error led to additional losses of $10.5 million, approximately 35% of the token's supply.
MEV bot profits exceeded $600,000 as ROSS crashed by 90% after the mispricing.
Despite the crash, ROSS is currently trading around $0.01, reflecting a 700% increase in one day.
Arkham noted that flagged wallets now serve as donation addresses for FreeRoss.org, with 50% of the ROSS supply allocated to them.
These wallets still hold 10% of the remaining ROSS supply, valued at about $200,000.