A new Solana project, AI Pool, raised an impressive $7.5 million in less than a day during its presale. However, the excitement was short-lived as both the project’s creator, known as “Skely,” and the AI Pool’s accounts on X (formerly Twitter) were abruptly suspended. The reasons for the suspension remain unclear.
What Is AI Pool?
AI Pool is a crypto AI agent developed on the Solana blockchain. Crypto AI agents are autonomous systems designed to interact with blockchains, performing tasks like creating memecoins or managing token sales.
This particular project used a trusted execution environment (TEE) to ensure that no human, including the creator, could access private keys tied to the tokens. Before the suspension, Skely emphasized the platform’s security, saying:
“Even if I get hacked, I can’t steal the funds.”
How Did AI Pool Attract $7.5 Million?
Skely announced the presale of AI Pool on X, urging investors to send a minimum of 1 Solana token (SOL) to the project’s public wallet address. In return, participants were promised airdropped tokens at a later date.
The presale quickly gained traction, accumulating 38,000 SOL, equivalent to $7.5 million USD. Investors’ enthusiasm was so overwhelming that Skely requested users to stop sending SOL:
“No coin is launched. You can watch the wallet, and you will be airdropped coins. But also, please stop sending SOL.”
Investor Confusion Over Limits
AI Pool had set a maximum investment limit of 10 SOL per person, but many investors ignored this and sent significantly larger amounts. In response, Skely remarked:
“Many people sent way more than 10 SOL when explicitly told to send 10 SOL only. I need to figure something out for these beautiful but misguided people, but it’s rough since it’s AI and in a TEE.”
Legal Concerns Surround AI Pool
The project’s sudden suspension raises questions about potential violations of securities laws. Raising funds through token sales to U.S. investors often falls under the oversight of the Securities and Exchange Commission (SEC). Whether AI Pool or Skely breached these regulations is yet to be determined.
This incident echoes a similar case from last week, where 17 plaintiffs sued Haliey Welch, also known as “Hawk Tuah Girl,” over her failed memecoin HAWK project. The plaintiffs claimed she violated federal securities laws after the coin’s value collapsed shortly after its launch.
The Future of Crypto AI Projects
The AI Pool case highlights the growing interest—and risks—associated with crypto AI projects. While the promise of automation and innovation is exciting, investors should exercise caution, particularly when participating in unregulated token sales.
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