Onchain investigator @zachxbt has flagged Solana’s latest major rug pull. Trading bot project AquaBot (@Aquabot_io) raised 21,770 SOL ($4.65M) in its presale before vanishing with investor funds.
Blockchain data shows that the project’s main presale wallet, 4Ea23VxEGAgfbtauQZz11aKNtzHJwb84ppsg3Cz14u6q, quickly split the funds across multiple addresses. Those assets were later routed through instant exchanges, making recovery nearly impossible.
The move has left thousands of retail investors burned, just hours before Aqua’s scheduled token launch.
AQUA Launch Hype Ends in Chaos
The Aqua team had hyped up today’s launch for weeks. The AQUA token was set to go live via a Meteora DLMM pool on Monday at 5:00 PM UTC.
A few hours before the rug, Aqua posted a thread on X:
But instead of a “real story,” investors got a vanishing act. Shortly after the presale rug, Aqua disabled replies on all their X posts.
Presale: Gamified Gamble
AquaBot’s presale model was unusual. Users were told to send SOL into a contract with a gamified “multiplier” system. The smart contract randomly boosted allocations, creating a lottery-like effect.
- Funds Raised: 21,770 SOL (~$4.67M)
- Promise: 0 vesting, 100% token unlock at TGE
- Reality: Minutes before launch, vesting was suddenly imposed
This last-minute switch set off alarm bells across X. Community members accused Aqua of orchestrating a classic bait-and-switch scam.
Backlash Hits Promoters
The rug is now sparking criticism of big names who boosted the project. X users called out @MeteoraAG, the liquidity platform used for launch, as well as @saydialect and other KOLs who promoted Aqua.
One viral post summed up the frustration:
Meteora Responds
Within hours, Meteora’s co-lead issued a statement. He admitted their team had retweeted Aqua after seeing “an innovative liquidity design” using DLMM, but stressed Meteora wasn’t directly involved.
His full response:
- Meteora’s marketing did a single QT on Aqua’s DLMM design
- The team is reviewing internal processes to avoid future mishaps
- Acknowledged emotions are high but urged perspective
Token Data
According to CoinMarketCap, AQUA was never formally listed due to the rug pull. Presale buyers have effectively lost their allocations, and secondary liquidity pools remain empty.
- Token: AQUA
- Presale Raised: 21,770 SOL ($4.65M)
- Launch Status: Abandoned
- Exchange Listings: None
This makes AQUA one of the largest Solana presale rug pulls of 2024, joining a list of scams that continue to undermine confidence in the ecosystem.
The Pattern of Rugs
The Aqua rug highlights a recurring issue. Teams with flashy marketing and influencer support raise millions, only to vanish. What stings most is when established protocols and influencers amplify these projects, whether knowingly or not.
For everyday investors, the message is the same: hype ≠ legitimacy.
As one user put it:
The AquaBot rug pull has cost investors $4.65M and tarnished trust in Solana’s growing trading bot sector. While Meteora and others scramble to distance themselves, the community is demanding accountability.
Until stricter due diligence becomes the norm, presales like Aqua’s will continue to thrive on hype, leaving retail investors exposed.
The story of Aqua is yet another reminder: in crypto, trust is fragile, and once it breaks, it rarely comes back.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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Source: https://nulltx.com/aquabot-rug-pull-drains-4-65m-in-solana-presale-funds/
