- 53 token launches on Robinhood Chain were linked to an alleged coordinated rug-pull operation extracting at least $18.43 million.
- 45 launches were connected through fund flows, with shared private keys and collector wallets revealing links between projects.
Onchain analyst Wazz has uncovered what appears to be the largest coordinated rug-pull operation traced on Robinhood Chain to date. Across roughly two months, 53 token launches were linked to a single extraction operation that pulled at least $18.43 million from retail buyers, with Wazz noting the real figure is likely higher given the limits of what could be directly traced.
The operation was structured, repeatable, and deliberately designed to be difficult to detect. Proceeds from one launch were used to fund the next, often within seconds. Furthermore, of the 53 launches identified, 45 were connected through these fund flows. Four shared the same private key signing funding batches across different launches. Four others shared a collector wallet that received proceeds from multiple projects.
Moreover, nearly every launch was sniped for over 70% of supply using bundles of 70 to 200 wallets, with most deployed through Pons V2. The pattern was consistent enough that Wazz was able to tag every involved wallet in his on-chain database.
The top three launches by extraction:
$CRUMBS: $3.12M extracted via a 92-wallet bundle
$LEGS: $2.9M extracted via a 77-wallet bundle
$PINK: $1.44M extracted via a 125-wallet bundle
Three separate launches each ran under the $PINK, $CRUMBS, and $DEED tickers, all linked to the same operation.
The Fake Launch Tactic
One of the more calculated elements of the scheme was the use of fake pre-launch contracts. The operation would hype a token heavily before launch, deploy a fake contract address to pull in early buyers, then release the real contract address afterwards, maximising extraction by running two rounds of the same scam on the same audience.
Most KOL posts promoting these launches were deleted immediately after the rug. Also, Wazz confirmed saved evidence only for the $DEED launch, noting that involved accounts likely overlap across multiple projects.
What This Means for Investors and the Robinhood Chain Ecosystem?
Most of the extracted funds are sitting in ETH, making them effectively unfreezable without exchange cooperation. In addition, the ease with which this operation ran for two months across 53 launches without detection points to a serious gap in on-chain monitoring on Robinhood Chain.
For retail investors, basic due diligence on wallet history, supply distribution, and deployer connections would have flagged most of these launches before a single dollar was lost. Sniping patterns, fresh deployer wallets, and concentrated supply are not subtle signals.
For the Robinhood Chain ecosystem, an $18.43M extraction operation tied to one ring, with at least two other unlinked serial operations also identified, raises legitimate questions about platform-level safeguards, launch screening, and the kind of infrastructure needed to protect a retail-first user base from organised extraction at this scale.
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