Ross Ulbricht’s wallet is losing millions on Pump Fun memecoins
Pardoned Silk Road founder Ross Ulbricht — or somebody who controls his wallet keys — has seemingly lost around $12 million on two disastrous trades on memecoin platform Pump Fun. Ulbricht, who was pardoned by President Donald Trump earlier this month, had been receiving donations, including Solana (SOL), from the crypto community throughout his 10-year prison stay. While most assumed he’d simply sell these assets upon his release, the world learned today that he — or someone who controls his keys — has instead been trading on Pump Fun . Unfortunately, the wallet’s owner made a catastrophic mistake on at least two Solana orders and lost an estimated $12 million . To make things worse for Ulbricht, he lost the funds to a sophisticated Maximal Extractable Value (MEV) bot operator, meaning he’s not even able to claim that he was giving back to his community of supporters. Ulbricht accidentally created a Constant-Product Market Maker ...