A chaotic token launch on Solana has put decentralized finance platform HumidiFi and Jupiter Exchange under intense scrutiny after blockchain researchers linked a single actor to the massive botching of the $WET public presale, capturing most of the allocation in seconds.
According to one detailed On-chain research published by Bubblemaps, an entity operating under the alias “Ramarxyz” used over 1,000 wallets to claim approximately 70% of the $WET public presale allocation.
The sale, which took place via Jupiter’s Decentralized Token Formation (DTF) launch pad, sold out in just two seconds before most retail participants could interact.
HumidiFi confirms bot attack as blockchain data traces sales to one actor
HumidiFi later confirmed that a large bot farm had overwhelmed the public sale. Bubblemaps found that at least 1,100 of the 1,530 participating addresses were controlled by the same actor.
The wallets followed a repetitive funding pattern, receiving exactly 1,000 USDC from centralized exchanges shortly before the sale.
One wallet allegedly broke this pattern by receiving funds from a private address that could be traced back to Twitter account @ramarxyz through previous public blockchain activity.
Instead of acknowledging the activity, the individual will later do so publicly suggested that HumidiFi must refund the sniper allocation, despite it being related to the exploit.
Shortly afterwards, HumidiFi confirmed that all suspected bot allocations had been canceled and that legitimate pre-sale participants would receive a prorated airdrop instead.
A separate on-chain analysis by trader Gautam Mgg showed that 4% of the public allocation went to just 10 wallets, with four wallets alone accounting for 40% of the entire public sale supply using bots.
$NAT @humidifi : 4% Public sale The offer went to only 10 wallets
Presale was fully bottled, actually robust. And yes, @JupiterExchange is also to blame.
Here’s the proof: these four wallets alone spent 40% of the 4% public sales allocation using bots (find more… pic.twitter.com/5dGz3bHwjZ
— Gautamgg
(@Gautamguptagg) December 4, 2025
The wallets were made public with the help of Solana explorers. Gautam also blamed Jupiter Exchange for not implementing basic bot protection measures such as CAPTCHA or last-minute address rotation.
Jupiter had before announced that the $WET token sale was fully completed, raising $5.57 million across the Wetlist, JUP staker, and public sale phases.
It’s official: public sale phase ahead $NAT is SOLD OUT!
The decentralized token formation for @HumidiFi has now officially closed, having raised a total of $5.57 million across the Wetlist, JUP stakes and public sale phases.$NAT token for successful contributors can be claimed… pic.twitter.com/o5Hleg91z1
—Jupiter (
,
) (@JupiterExchange) December 4, 2025
The public phase offered 30 million tokens for $0.069 per token, with a maximum of $1,000 USDC per wallet. The token is expected to become claimable on December 9, alongside the launch of liquidity pools.
HumidiFi reissues token after aborting disrupted $WET launch
After the incident, HumidiFi announced it would abandon the compromised launch and create a new token instead.
The protocol said all legitimate Wetlist and JUP striker participants would receive a pro-rata airdrop under a newly drafted contract that has been audited. A new public sale is now planned.
Launched in mid-2025, HumidiFi has become one of Solana’s most active decentralized exchanges, handling more than $1 billion in daily trading volume and often accounting for more than a third of all spot trading on the network.
According to According to DefiLlama, Dex volume is currently almost $30 billion over 30 days, while cumulative volume is over $122 billion.
The $WET token was introduced as the protocol’s stake and fee discount and was promoted as a community-driven distribution using Jupiter’s DTF platform.
The incident has reignited broader concerns about the fairness of token distribution across launch pads.
In September, Bubblemaps also flagged a separate Sybil attack linked to the MYX token airdrop, where roughly 100 newly created wallets claimed nearly $170 million in tokens after being simultaneously funded by OKX.
That case also raised questions about identity checks and weaknesses in the launch design.
Jupiter DTF was introduced as a transparent, trust-minimized alternative to traditional token launches, combining curation and on-chain verification. The $WET sale was the first live implementation, making the failure a major test for the model.
Neither Jupiter Exchange nor the accused individuals have provided a detailed technical overview of what failed at the infrastructure level.
The post Exposed: “Ramarxyz” Scammed 70% of $WET Presales with Over 1,000 Wallets – Then Demanded Refunds appeared first on Cryptonews.
