On-chain analyst Wazz has identified a large-scale rug pull operation within the Robinhood Chain network. A single group executed 53 token launches over a two-month period, resulting in the extraction of at least $18.43 million. The scheme utilized a self-funding model where profits from one launch financed the next.
The investigation revealed that 45 launches were linked by fund flows, four by reused keys for batch transactions, and four by a shared collection address. In most cases, clusters of 70 to 200 wallets purchased over 70% of the token supply. Many of these launches were conducted via the Pons V2 launchpad.
In nine instances, creators exempted 15 to 25 addresses from anti-snipe taxes, allowing them to purchase tokens within one to three blocks of launch. This activity filled the bonding curve and moved the token to a Uniswap v4 pool, granting the group 82% to 86% of the supply. The largest incidents involved tokens CRUMBS, LEGS, and PINK.
The analyst noted that the group occasionally performed fake launches before releasing a final token that was also dumped. The stolen funds are primarily held in ETH, complicating potential recovery efforts. Wazz also identified at least two other serial scam operations that could not be directly linked to this specific group.
