53 Robinhood Chain token launches tied to single rug-pull scheme
Security & Exploits ·
An on-chain analyst says fund flows, shared keys and shared wallets connect dozens of token launches to one operation that pulled at least $18.43 million off Robinhood Chain.
On-chain analyst Wazz traced 53 token launches on Robinhood Chain over roughly two months back to a single rug-pull operation, according to wublockchain.xyz, which put total extracted funds at no less than $18.43 million. Of the 53 launches, 45 were linked through fund flows, with proceeds from each project reportedly recycled to seed the next launch in the sequence.
The analyst also found four launches sharing an identical private key used to fund wallet batches, and four sharing a single collector wallet, patterns cited as evidence the launches were run by the same actors rather than independent teams. Most launches relied on 70 to 200 wallets to snipe over 70% of token supply at deployment, with many of the projects pushed through Pons V2, per theblock.co.
Individual token figures show the scale of the largest extractions: CRUMBS accounted for about $3.12 million, LEGS for about $2.9 million, and PINK for about $1.44 million. Separate reporting has also tied a subset of nine Pons V2 launches to disabled anti-sniping protections, a mechanism that would otherwise limit early wallets from cornering supply, according to leviathan.news.
Some of the projects allegedly used fake pre-launch contracts to draw in buyers before the real contract address was released, a tactic that would let coordinated wallets position ahead of retail purchases tied to the eventual official listing. The analyst's findings, posted via x.com, have been corroborated across four distinct sources tracking the same set of launches and dollar figures.
What remains unresolved is the identity of those behind the operation and whether any funds have been recovered or frozen. It is also unclear whether Robinhood Chain or Pons V2 has taken any steps in response to the disabled anti-sniping mechanism cited in the reporting, or whether additional token launches beyond the 53 identified will be linked to the same fund flows as the investigation continues.