Researcher links 53 token launches to alleged $18.4M rug-pull ring on Robinhood Chain
Security & Exploits ·
An investigation posted by WazzCrypto traces a coordinated extraction operation across dozens of token deployments in a two-month span.
The researcher identified 53 separate launches on Robinhood Chain tied to a single operation, with total extracted funds estimated at $18.43 million, a figure described as likely understated since it only reflects what could be directly linked on-chain. The investigation began after scrutiny of the $DEED launch, which nonetheless does not rank among the top ten launches by amount extracted, according to the findings.
The mechanics described involve funding keys: proceeds from one launch are said to pay the wallet that funds the next, often within seconds of that key signing the following funding batch. Of the 53 launches, 45 are linked through this money trail, while 4 launches — VAULTS, WAIFU, DEED's second launch, and CRUMBS — are tied together because the same private key allegedly signed funding batches for multiple launches. Another 4 launches, including LEGS, PINK, and its two CRUMBS relaunches, reportedly funneled proceeds to a shared collector wallet. One documented example shows 98 wallets sweeping 179.88 ETH into a hub, which then passed 20 ETH through an intermediary to DEED's funding key roughly 16 seconds before that key signed DEED's funding batch.
Nearly every launch examined was allegedly sniped for more than 70% of supply, bundled across 70 to 200 wallets, with most deployed through Pons V2. The top three launches by extracted value include one address that pulled $3.12 million via a 92-wallet bundle, $LEGS at $2.9 million via a 77-wallet bundle, and $PINK at $1.44 million via a 125-wallet bundle. The report also describes fake pre-launch tokens used to build hype before the real contract addresses were announced, a tactic aimed at maximizing extracted value ahead of the actual launches. Three separate $PINK launches, three of one flagged contract address, and three $DEED launches were all attributed to the same operation.
A separate wider context is offered by leviathan.news, which situates the episode within ongoing scrutiny of Robinhood Chain activity. The researcher notes that most extracted funds remain in ETH and are not freezable, though every wallet involved has reportedly been tagged in an on-chain database. At least two additional serial-deploying operations were identified separately, extracting millions across dozens of further launches, though they could not be directly linked to this ring. A reply in the original thread names an individual as the group's leader, a claim that remains unverified. The researcher has indicated a broader investigation is forthcoming, and it remains unclear whether any funds will be recovered or further launches attributed to the network.