"0.2 dollars became 1.3 million dollars?"...Solana bot, price reversal with a few 'blocks'

▲ Solana (SOL)/AI generated image

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

Crypto media outlet BeInCrypto reported on May 2 (local time) that automated trading bots operating on the Solana network made approximately $1.32 million in profit by exploiting the price disparity of Ant Blockchain (ANB).

This transaction occurred due to price differences between Meteora liquidity pools. A large volume of sell orders flooded a specific pool, causing the price to drop by up to 99%, while the existing price was maintained in other pools, 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 grew to approximately $696,000, and in another case, $0.036 expanded to $86,714.

This process was repeated across just a few blocks, with total profits reaching approximately $1.32 million. Analysis suggests that the combination of fast block processing speed and the Jito bundle structure allowed bots to preemptively seize arbitrage opportunities.

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

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