Robinhood Chain memecoin launches tied to $18.4 million extraction scheme
A cluster of memecoin launches on Robinhood Chain is drawing scrutiny after onchain analysis linked dozens of token debuts to a single suspected rug-pull operation. The activity spans about two months and centers on launchpad mechanics that let selected wallets bypass anti-sniping protections and accumulate most of a token's supply within seconds.
Highlights
- Pseudonymous analyst Wazz identified at least $18.43 million in proceeds from 53 memecoin launches on Robinhood Chain, mostly via Pons V2.
- Investigation found 45 launches linked through sequential wallet fund flows, plus additional connections via shared private keys and collector wallets.
- Largest extractions among the launches included CRUMBS at $3.12 million, LEGS at $2.9 million, and PINK at $1.44 million.
Onchain trail links launches and wallet flows
The Block reports that pseudonymous analyst Wazz published an investigation on X on Sunday linking at least $18.43 million in proceeds to 53 memecoin launches on Robinhood Chain. The analyst says most of the tokens launched through Pons V2, the main token launchpad on the network, and that nearly every launch was sniped for 70% or more of supply by bundles of 70 to 200 wallets.Wazz says 45 launches are connected by tracing payments from one launch's collection wallet to the next token's funding wallet. Four more launches are linked through private keys used to sign batch funding transactions for more than one launch, while another four are tied through a shared collector wallet.
The Block says its review of Robinhood Chain data confirms that 10 of the launches listed in Wazz's thread were sniped, along with one of the fund flows used to connect launches. It does not independently replicate the full $18.43 million total.
Among the largest extractions in Wazz's list, CRUMBS accounts for $3.12 million, followed by LEGS at $2.9 million and PINK at $1.44 million. Wazz also says at least two other serial deployers appear active but cannot yet be linked to the same group.
Our earlier coverage of Ondo Finance’s tokenization push highlighted how the company drew investor attention as it expanded rails connecting blockchain products with traditional fund infrastructure. We noted Ondo’s move to join DTCC’s Fund/SERV network and the launch of new on-chain investment products, underscoring the broader trend of tokenized real-world assets gaining momentum alongside growing integration with legacy market plumbing.
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