"0.2 dollars turned into 1.3 million dollars?"...Solana bot, a few 'blocks' cause a massive price reversal

▲ Solana (SOL)/AI-generated image

The market was shocked by a trade where a Solana (SOL)-based automated trading bot turned a few cents into hundreds of thousands of dollars.

According to cryptocurrency media outlet BeInCrypto on May 2 (local time), automated trading bots operating on the Solana network made a profit of approximately 1.32 million dollars by exploiting the price disparity of Ant Blockchain (ANB).

This trade occurred due to price differences between Meteora liquidity pools. A large volume of sell orders flooded a specific pool, causing the price to plummet by up to 99%, while simultaneously, other pools maintained their existing prices, creating an extreme price gap.

Bots exploited this gap by buying ANB from the low-priced pool and immediately selling it in the high-priced pool to realize arbitrage. In one transaction, funds worth 0.227 dollars swelled to approximately 696,000 dollars, and in another case, 0.036 dollars expanded to 86,714 dollars.

This process was repeatedly carried out within just a few blocks, with total profits reaching approximately 1.32 million dollars. The analysis suggests that the combination of fast block processing speed and Jito bundle structure allowed bots to preemptively seize arbitrage opportunities.

After the massive sell-off, ANB's market capitalization plummeted by approximately 99%, and the downward trend continued thereafter. Ant.FUN, which operates the project, has not yet issued a separate statement regarding this incident.

*Disclaimer: This article is for investment reference only, and we are not responsible for investment losses based on it. This content should be interpreted for informational purposes only.*