The Solana ecosystem is reeling after Aquabot, a highly publicized Telegram trading bot project, allegedly executed a rug pull that drained $4.65 million in presale funds. The incident has sparked outrage not only among retail investors but also within the broader Solana community, as several high-profile influencers and projects had promoted the initiative.
According to on-chain investigator ZachXBT, Aquabot’s presale wallet moved 21,770 SOL, valued at roughly $4.65 million, into intermediary addresses before routing the funds to instant exchanges. The transfers were split into four tranches, a tactic typically used to obscure transaction trails.
The suspicious movements occurred just hours before Aquabot’s scheduled token generation event (TGE).
Gamified Presale Turns Sour
Aquabot marketed itself as a low-fee Telegram trading bot, boasting a 0.25% transaction fee structure and an innovative “liquidity ladder” presale mechanism. This design promised to stagger investor entry prices while offering multipliers through a randomizer.
Initially, the team pledged 100% token distribution without vesting, but shortly before launch, it controversially changed terms to impose vesting schedules.
When funds abruptly vanished, the project locked replies on its official X account, intensifying suspicions. Community members accused Aquabot of orchestrating a calculated exit, with one frustrated investor writing: “Once again, reputable protocols interact and make partnerships with ruggers, and then they act like nothing happened.”
Influencers Under Fire
What makes this rug pull especially damaging is the role of major Solana influencers and platforms in amplifying Aquabot. Notable names such as Meteora, Quill Audits, Helius, SYMMIO, and Dialect had boosted the project, while individual influencers praised its mechanics and low fees. Critics argue these endorsements created a false sense of legitimacy, luring more investors into the trap.
ZachXBT was blunt in his criticism, stating: “There can be no tolerance for such behavior. What we need, at the very least, is radical transparency across Solana.”
A Pattern of Presale Scams
The Aquabot fiasco is not an isolated case. Solana has faced a wave of presale scams in recent years. ZachXBT previously flagged multiple instances where projects raised millions in SOL before disappearing. Collectively, 33 presales pulled in more than $150 million in SOL, including schemes tied to figures like @Sartoshi0x and @bluekirbyftm.
Despite these setbacks, Solana’s social engagement remains high, with LunarCrush reporting 22.6 million engagements and a market cap of $116.7 billion. Institutional players such as Galaxy Digital, Jump Crypto, and Multicoin Capital have even launched a $1.65 billion Solana treasury initiative, reinforcing confidence in the network’s long-term potential.
Lessons for the Community
The Aquabot rug pull serves as another painful reminder of the risks surrounding presales, especially those offering novel mechanics or unusually favorable terms. While Solana continues to thrive in adoption and institutional support, its ecosystem faces a credibility crisis. For many, the call is clear: transparency and accountability must become the standard before trust can be rebuilt.
