Analyst links 53 Robinhood Chain token launches to $18.4M rug-pull scheme
On-chain analyst Wazz traced 53 memecoin launches on Robinhood Chain to a coordinated operation that extracted an estimated $18.43 million between July and September.
On-chain analyst Wazz has linked 53 token launches on Robinhood Chain to a single rug-pull operation that extracted at least $18.43 million between July and September. Findings reported by Wu Blockchain and BSCN indicate that 45 of the 53 launches were tied together through fund flows, using profits from one token to finance the next. In addition, four launches shared the same private key for funding batches, and four shared a collector wallet.[2][3]
Most of the tokens were deployed through Pons V2. The operation reportedly utilized bundles of 70 to 200 wallets to snipe more than 70% of each token's supply immediately, dispersing coordinated ownership across dozens of separate addresses. On-chain data reviewed by The Block showed that token creators in 10 Pons V2 launches explicitly exempted specific wallets from the platform's anti-sniping tax, enabling those addresses to buy out launches in less than a second.[1][2][3][4]
Individual tokens cited in the investigation included CRUMBS, LEGS, and PINK, which extracted approximately $3.12 million, $2.9 million, and $1.44 million, respectively. Some projects also deployed fake pre-launch contracts to entice buyers before circulating the official contract address. While the $18.43 million total remains an on-chain estimate rather than an audited loss, nothing in the findings alleges that Robinhood, Pons, or network operators were involved in the scheme.[2][3]
Key facts
- Analyst Wazz traced 53 Robinhood Chain token launches to a single rug-pull syndicate that extracted at least $18.43 million between July and September.
- Of the 53 launches, 45 were connected via fund flows, four shared a private key used for funding, and four shared a collector wallet.
- The scheme used bundles of 70 to 200 wallets to instantly snipe over 70% of token supplies to mask centralized ownership.
- On-chain data confirmed creators in 10 Pons V2 launches exempted certain wallets from anti-sniping taxes, allowing them to buy out supply in under a second.
- Tokens named in the extraction included CRUMBS ($3.12 million), LEGS ($2.9 million), and PINK ($1.44 million).
- The $18.43 million figure is Wazz's linked estimate rather than an audited loss, and no evidence implicates Robinhood, Pons, or network operators.
Sources · 4 sources
- TB
The BlockArticle ·
Onchain analyst links $18.4 million in Robinhood Chain memecoin extractions to single rug-pull operation The creators of 10 Pons V2 launches exempted a set of wallets from Pons' anti-sniping tax; those wallets went on to buy most of each token's supply, per onchain data.
Open source - WB
Wu Blockchain@WuBlockchainPost on X ·
Wazz: 53 Robinhood Chain Token Launches Linked to Rug-Pull Operation, at Least $18.43M Extracted On-chain analyst Wazz said he traced 53 Robinhood Chain token launches over roughly two months to the same rug-pull operation, which extracted at least $18.43 million. Of the 53 launches, 45 were connected through fund flows, with proceeds from one used to finance the next; four shared the same private key for funding batches, and four shared a collector wallet. Wazz said most launches used 70–200 wallets to snipe over 70% of supply, with many deployed through Pons V2. CRUMBS, LEGS and PINK extracted about $3.12 million, $2.9 million and $1.44 million, respectively. Some projects also allegedly used fake pre-launch contracts to attract buyers before releasing the official contract address.
Open source - BS
BSCN@BSCNewsPost on X ·
Robinhood Chain Memecoin Ring Linked To $18.43M Extraction An on-chain investigation has linked 53 Robinhood Chain (@RobinhoodCrypto) memecoin launches to one coordinated operation. Pseudonymous analyst Wazz estimates the group extracted at least $18.43 million across those launches between July and September. Nearly every launch was reportedly sniped for 70% or more using bundles of 70 to 200 wallets. Most tokens were launched through Pons V2, according to Wazz's investigation. The wallets allegedly bought tokens immediately, making coordinated ownership appear spread across separate addresses. However, the $18.43 million figure remains Wazz's linked estimate, not an audited loss figure. The investigation confirmed sniping mechanics across 10 launches and one related funding flow. Nothing in the findings alleges that Pons, Robinhood, or network operators participated in the scheme.
Open source - TB
The Block@TheBlockCoPost on X ·
THE BLOCK: Onchain analyst Wazz linked $18.43 million in Robinhood Chain memecoin extractions to one rug-pull operation. Onchain data reviewed by The Block shows creators waived Pons' anti-sniping tax for wallets that then bought out each launch in under a second. https://t.co/auQ9RyBDH7
Open source