Ross Ulbricht recently faced the crash of the ROSS token following a liquidity error on the Raydium platform.
Error During ROSS Liquidity Launch
The ROSS token, launched by Ross Ulbricht's fund, lost $12 million in value following a mistaken attempt to inject liquidity on the Raydium platform. Errors in pricing and type of liquidity led to a token price drop and triggered a MEV bot attack.
MEV Bot's Role in the Crash
The MEV bot exploited the faulty setup, acquiring $1.5 million of the tokens, which it immediately sold, collapsing the price. A second attack resulted in another $10.5 million loss, accounting for 35% of the total ROSS token supply.
ROSS Prospects After the Crash
Despite the crash, the ROSS token began to recover its value and attract investor interest. Currently valued at $200,000 for 10% of supply, there are prospects for further market growth.
The ROSS crisis posed a challenge for project development, but the attention gathered may aid its recovery and increase in value.
