PANews reported on January 30 that according to Arkham monitoring, Silk Road founder Ross Ulbricht or the person who managed his wallet lost $12 million due to incorrect price setting when providing liquidity on Raydium.

Last week, Ulbricht's Solana donation address received 50% of the total supply of ROSS tokens (Ross Ulbricht Fund). He tried to add one-sided liquidity to Raydium to passively sell tokens, but due to the wrong initialization price of the liquidity pool, $1.5 million of ROSS tokens (5% supply) were immediately snatched and sold by MEV robots, causing the price of the currency to plummet by 90%.

Ulbricht subsequently attempted another operation, resulting in an additional $10.5 million (35% of supply) being liquidated, for a total loss of 40% of the token supply. Despite this, he still holds 10% of the tokens in a separate address and has correctly re-added liquidity to Raydium Concentrated Liquidity.