Ross Ulbricht, recently pardoned by Trump, lost $12 million while trying to provide liquidity on Pump.fun, mistakenly setting up the wrong liquidity pool.

Law enforcement said Ulbricht created the “most sophisticated and extensive criminal marketplace” on the internet.

Silk Road founder Ross Ulbricht, who was given two life sentences in 2015, thanks President Donald Trump for giving him a "second chance" with unconditional pardon.

In 2015, a federal judge in Manhattan sentenced Ulbricht to life in prison for drug trafficking, computer hacking and money laundering.

Ulbricht, who was convicted of running an anonymous online drug marketplace, became a hero to crypto-holders everywhere. What does his pardon signal for the future of the technology?

Libertarian activists, who generally oppose criminal drug policies, argued the government overreached in building its case against Ross Ulbricht and the dark web marketplace Silk Road.

Ulbricht, 40, was about 10 years into his life sentence for helming an online black market where drug dealers, money launderers, and traffickers used bitcoins to mask more than $214 million in illicit trades. (Ars thoroughly documented the Silk Road saga here .)

Silk Road founder Ross Ulbricht, or someone with access to his wallets, lost $12 million in a scam involving Pump.Fun memecoin on Solana.