- Aqua allegedly rug pulled 21,770 SOL ($4.65M) after heavy promotions.
- Team disabled X replies and altered vesting terms pre-launch.
- Incident raises concerns about Solana ecosystem due diligence.
How the Alleged Exit Scam Unfolded
In a shocking turn of events, the Solana-based trading bot project Aqua has been accused of executing a rug pull, draining approximately 21,770 SOL—valued at $4.65 million—from over 6,500 investors. The allegations surfaced on September 8, 2025, when onchain investigator ZachXBT reported suspicious activity, revealing that the funds were split into four parts, routed through intermediary wallets, and deposited into multiple instant exchanges.
Following the report, the Aqua team disabled replies on all X posts, fueling speculation of a coordinated exit scam. This incident has ignited widespread outrage within the crypto community, particularly as Aqua had garnered credibility through partnerships with prominent Solana ecosystem players like Meteora and Helius.
Community Backlash and Calls for Accountability
The project, which promised revenue sharing via its AQUA token through buy-and-burn mechanisms and staking rewards, raised $1 million in just 30 minutes during its public sale. However, hours before the token generation event (TGE), the team altered terms, introducing vesting periods despite earlier assurances of 0 vesting. This sudden shift, coupled with the rapid movement of funds, has led many to label it a classic rug pull—a scam where developers abandon a project after collecting investor funds. Social media reactions range from calls for accountability to criticism of influencers who promoted the project without disclosure, with some urging stricter due diligence.
Implications for Solana’s Reputation
The fallout has broader implications for Solana’s reputation, a high-performance blockchain known for its speed and low fees. While some argue the issue lies with individual projects rather than the network itself, the Aqua scandal underscores the risks of speculative investments in unverified tokens. As the community demands transparency, questions arise about the role of ecosystem partners and the need for robust security measures. For now, investors are left stunned, and the incident serves as a stark reminder to verify project legitimacy before participating in presales.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
