On-Chain Sleuth Ties 53 Robinhood Chain Token Launches to $18M Operation

Pseudonymous blockchain analyst Wazz has identified a single entity behind 53 token launches on Robinhood Chain that drained at least $18.43 million between July and September.

The September 27 report on X comes weeks after meme coin trading on the chain reached unprecedented levels, with launchpads processing over $1 billion in daily volume.

How One Launch Funded the Next

Wazz tracked the flow of funds for 45 of the 53 launches. Money from one token moved into a central hub wallet, which then provided the funding key for the subsequent launch.

In one case, DRAFT’s 98 wallets channeled 179.88 ETH into a hub. That hub paid an intermediary wallet, which transferred 20 ETH to DEED’s funding key. The key signed DEED’s funding batch just 16 seconds later.

“What ties them together is money: the proceeds of one launch pay the key that funds the next, usually seconds before that key signs the next funding batch,” the post read.

I just uncovered the biggest serial Rugpulling and Extraction operation on Robinhood

The same operation is linked 53 launches within a 2 month period

Total Extracted: $18.43 MILLION

very likely more this is just what I could directly link

🧵 https://t.co/wS62KAbvv5 pic.twitter.com/BSxZL9wU44

— Wazz (@WazzCrypto) September 27, 2026

An additional four launches shared a single private key, and another four used the same collector wallet. Bundles of 70 to 200 wallets purchased nearly every token.

CRUMBS led with $3.12 million extracted, followed by LEGS at $2.9 million and PINK at $1.3 million. Each token lost more than 99% of its value from its peak.

Approximately $18.11 million remains unspent in holding wallets on Robinhood Chain and Ethereum (ETH).

How Pons V2’s Snipe Tax Exemption Fits In

Of the 53 launches, 34 used Pons V2, the chain’s main launchpad. Pons imposes a 99% tax on purchases during the first second of a launch, which then drops to zero within moments.

Creators can pre-designate wallets as exempt from that tax in the launch transaction, allowing them to buy at zero tax while others in the same second pay 99%. Wazz’s data indicated that the designated wallets acquired up to 86% of the supply in that first second.

BeInCrypto has not independently verified the wallet linkages, which are based solely on Wazz’s analysis.

The operation expanded with the chain itself. Robinhood Chain launched on July 1 as a Layer 2 for tokenized stocks, but speculative activity quickly dominated, as BeInCrypto previously reported. Dune data shows daily decentralized exchange (DEX) volume hit a record $3.78 billion on September 4, compared to mostly under $1 billion in July and August.

Launchpad token volume reached $1.5 billion that day, with Pons alone accounting for $818.7 million. The Pons (PONS) token has recorded $2.74 billion in lifetime volume across 139,426 traders.

That growth enabled the ring. Wazz said the analysis uncovered at least two more serial operations that extracted millions but could not be directly linked to this one.