On January 10 2024 at 22:20:39 UTC, 5qYuZ9ZLShLB1MuV83xHRcTgVA9A5pUajnQUUcPbk3bf (zer0xtrading.sol) made an extremely costly mistake that transferred millions of dollars from their hands into the hands of arb bots, Jito validators, and their stakers.
In one transaction, they swapped 86,739.1 SOL, worth approximately $8.6M USD, for 17,225,407.03 of $WIF, a popular memecoin on Solana. Unfortunately for them, liquidity was low. During their swap, they took most on-chain liquidity, moving the price