Decentralized Finance Platforms Under Scrutiny After $WET Presale Exploit
A recent token launch on the Solana blockchain has raised concerns about the fairness and security of decentralized finance (DeFi) platforms, particularly HumidiFi and Jupiter Exchange. According to a report by Bubblemaps, a single actor, operating under the pseudonym “Ramarxyz,” used over 1,000 wallets to claim approximately 70% of the $WET token’s public presale allocation.
The sale, which took place via Jupiter’s Decentralized Token Formation (DTF) launchpad, sold out in just two seconds, leaving many retail participants unable to interact. HumidiFi later confirmed that a large bot farm had overwhelmed the public sale, with at least 1,100 of the 1,530 participating addresses controlled by the same actor.
Bot Attack and Refund Demands
The wallets used by Ramarxyz followed a repeating funding pattern, with each receiving exactly 1,000 USDC from centralized exchanges just before the sale. One wallet broke the pattern by receiving funds from a private address that was traced back to the Twitter handle @ramarxyz through previous public blockchain activity.
Instead of acknowledging the activity, the person later publicly suggested that HumidiFi should refund the sniper’s allocation, despite it being related to the exploit. HumidiFi confirmed that all suspected bot allocations had been canceled and that legitimate presale participants would instead receive a prorated airdrop.
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 providing 40% of the total public sales supply using bots. The wallets were publicly listed using Solana explorers.
HumidiFi’s Response and Reissuance of Tokens
Following the incident, HumidiFi announced that it would cancel the compromised launch and create a new token instead. The protocol stated that all legitimate Wetlist and JUP Staker participants would receive a prorated airdrop under a newly launched, verified contract. A new public sale is now planned.
HumidiFi launched in mid-2025 and has become one of Solana’s most active decentralized exchanges, handling over $1 billion in daily trading volume and often accounting for more than a third of all spot trading on the network. According to DefiLlama, Dex volume is currently close to $30 billion over a 30-day period, while total volume is over $122 billion.
The $WET token was launched as the protocol’s staking and fee refund asset and promoted as a community-driven distribution via Jupiter’s DTF platform. The incident has revived broader concerns about the fairness of token distribution on launchpads.
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