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A bot operating on the Solana blockchain managed to convert 0.227 USDC into approximately $696,000 in just a few seconds through a single transaction. The profit was realized due to a significant drop in the price of the meme coin ANB.
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The decline in the meme token’s value was triggered by a large sell order: a major holder of the asset, referred to as a whale, dumped 4 billion ANB into the liquidity pools of the Meteora platform, an automated market maker on Solana. At that time, the value of this amount of ANB tokens was around $80,000.
This substantial transaction created a sharp price discrepancy between the liquidity pools on Meteora: while one pool absorbed the selling volume and drastically reduced the price of ANB, another pool lagged behind, resulting in a temporary arbitrage opportunity that was wide enough for bots to exploit.
Consequently, the bot exchanged its small amount of USDC for approximately 72,793 ANX in the Meteora DAMM v2 pool. These tokens were then almost instantly sent to a second DAMM v2 pool, where the bot purchased over 50 million ANB at the significantly reduced price following the sell-off. The large batch of ANB was then sold, yielding the investor 885,290 USDC before fees.
In addition to this bot, other automated systems also identified the imbalance. They engaged in trading as well, collectively generating several million dollars before the pools regained equilibrium.
ANB was the native token of Ant.FUN — a platform for trading meme coins based on Solana. By the time the situation stabilized, the market capitalization of ANB had fallen from $67 million to below $100,000, with the token itself depreciating by 99% to $0.000012, according to CoinMarketCap.
Recently, the RaveDAO token experienced a collapse, losing over 95% of its value within 24 hours. An anonymous blockchain investigator, ZachXBT, accused the DAO team of insider manipulation.
