diff --git a/src/bun.js/api/bun/socket.zig b/src/bun.js/api/bun/socket.zig
index 0c489fa2ef35e0..bc2b65a09196a6 100644
--- a/src/bun.js/api/bun/socket.zig
+++ b/src/bun.js/api/bun/socket.zig
@@ -1036,6 +1036,8 @@ fn NewSocket(comptime ssl: bool) type {
                 var promise = val.asPromise().?;
                 const err_ = err.toErrorInstance(globalObject);
                 promise.rejectOnNextTickAsHandled(globalObject, err_);
+                this.has_pending_activity.store(false, .Release);
+                this.poll_ref.unref(handlers.vm);
             }
         }
 
diff --git a/test/js/bun/net/socket.test.ts b/test/js/bun/net/socket.test.ts
index 881175b242fcfd..9ee60bc6318491 100644
--- a/test/js/bun/net/socket.test.ts
+++ b/test/js/bun/net/socket.test.ts
@@ -1,5 +1,5 @@
 import { expect, it } from "bun:test";
-import { bunExe } from "harness";
+import { bunExe, expectObjectTypeCount } from "harness";
 import { connect, spawn } from "bun";
 
 it("should keep process alive only when active", async () => {
@@ -91,6 +91,10 @@ it("should reject on connection error, calling both connectError() and rejecting
   );
 });
 
+it("should not leak memory when connect() fails", async () => {
+  await expectObjectTypeCount("TCPSocket", 1, 100);
+});
+
 // this also tests we mark the promise as handled if connectError() is called
 it("should handle connection error", done => {
   var data = {};
@@ -128,3 +132,7 @@ it("should handle connection error", done => {
     },
   });
 });
+
+it("should not leak memory when connect() fails again", async () => {
+  await expectObjectTypeCount("TCPSocket", 1, 100);
+});