Onchain analyst Wazz identified $18.4M in memecoin extractions on Robinhood Chain as a coordinated rug-pull scheme using nine Pons V2 launches with disabled anti-sniping protections.
Security & Exploits ·
Onchain analyst Wazz identified $18.4 million in memecoin extractions across Robinhood Chain as a coordinated rug-pull operation involving nine Pons V2 launches. The creators of each launch disabled the launchpad's anti-sniping tax protection for specific wallets, allowing those wallets to purchase the entire token supply in under a second per launch. This pattern of mechanics—waived protections paired with rapid, complete token acquisition—suggests deliberate coordination across the nine deployments rather than isolated incidents.
The scheme exploited Pons V2's configurable tax system, which ordinarily protects early buyers from bot sniping. By exempting particular wallets from this safeguard, the operators were able to execute near-instantaneous liquidations. Onchain data corroborated the timing and wallet movements across the separate launches.
The investigation does not yet establish the identities or relationships among the nine wallet operators, nor whether additional Robinhood Chain launches may be implicated in related extraction patterns. The incident underscores structural vulnerabilities in launchpad systems where creator privileges can bypass standard protections.