Analyst links $18.4M in Robinhood Chain memecoin exits to single operation
Security & Exploits ·
An onchain analyst has traced $18.4 million in extracted memecoin funds on Robinhood Chain to what is described as one coordinated rug-pull scheme.
The findings, attributed to an analyst identified as Wazz, tie the extractions to nine separate token launches on Pons V2, a launch mechanism on Robinhood Chain, according to reporting from The Block. Each of the nine launches reportedly shared a common feature: anti-sniping protections that were disabled, a design choice that would have allowed early or coordinated actors to extract value before typical safeguards could intervene.
The pattern across nine launches, rather than a single isolated token event, is what led the analyst to characterize the extractions as one operation rather than a series of unrelated incidents. Anti-sniping mechanisms are generally built into launch platforms to prevent bots or insiders from front-running new liquidity, so their absence across multiple tokens points toward a deliberate configuration rather than a one-off oversight.
The total figure of $18.4 million represents the combined value extracted across the nine launches identified in the analysis. No breakdown of extraction amounts per individual token, nor details on the identities or wallets behind the disabled protections, has been disclosed in the available reporting.
The episode adds to a broader pattern of rug-pull activity being tracked across the crypto industry, spanning cases from Ponzi-linked freezes to exchange-balance exploits and cross-chain scam networks, though the Robinhood Chain case is treated as a distinct, self-contained operation rather than part of those other incidents. What remains unresolved is whether any of the nine token deployments can be traced back to a common set of wallets or developers, and whether Robinhood Chain or Pons V2 will alter default settings on anti-sniping protections in response to the findings.