On-chain researcher ZachXBT uncovered a rug pull scam by the Solana-based project Aqua, which allegedly stole approximately 21,770 SOL (worth $4.65 million). The funds were split into four parts, transferred to intermediary addresses, and sent to instant exchanges just hours before the report. Aqua, marketed as a trading infrastructure platform, had gained credibility through endorsements from major Solana entities like Meteora, Helius, SYMMIO, Dialect, and influencers, as well as a security audit from QuillAudits that awarded a 99.7% score on August 31.
The project raised $1 million in 30 minutes through a public token sale for its AQUA token, promising revenue sharing and fair launch via a 'Liquidity Ladder' model. Following the alleged exit, the Aqua team disabled replies on X (Twitter), deleted Telegram messages, and claimed their Medium account was suspended, providing no updates. Meteora co-lead Soju acknowledged the incident, stating efforts to improve internal processes to prevent such events, though no formal confirmation of the rug pull has been issued.