An on-chain analyst known as Wazz has exposed a significant rug pull scheme involving the Robinhood Chain, where a single organized group executed 53 token launches over two months, siphoning off at least $18.43 million.
I just uncovered the biggest serial Rugpulling and Extraction operation on Robinhood
ā Wazz (@WazzCrypto) September 27, 2026
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
š§µ https://t.co/wS62KAbvv5 pic.twitter.com/BSxZL9wU44
The operation was self-financing, with profits from one launch funding the next. According to Wazz, 45 of the launches involved a transfer of funds from one project to the next, while four utilized the same keys for signing batch transactions, and another four were linked to a shared collection address.
Wazz claims that in nearly every instance, over 70% of the token supply was acquired by clusters of 70 to 200 wallets, with most launches occurring through the Pons V2 launchpad.
In nine cases, token creators preemptively exempted 15 to 25 addresses from anti-sniping taxes, allowing fraudsters to purchase tokens within one to three blocks after launch. This maneuver distorted the bonding curve and facilitated the token's entry into the Uniswap v4 pool, enabling creators and exempted wallets to capture 82-86% of the supply.
The analyst speculated that the group sometimes conducted fake token launches, such as CRUMBS, PINK, and DEED, before releasing a "real" token that was also dumped.
The most significant incidents involved the tokens CRUMBS ($3.12 million), LEGS ($2.9 million), and PINK ($1.44 million). Investigations began with the DEED coin, but it ultimately did not rank among the top ten for the amount of funds extracted.
Wazz also found at least two similar serial scam operations that could not be directly linked to the identified group. Most of the stolen funds are held in ETH, complicating any efforts to freeze them.
It is worth noting that in August, hackers associated with GTA 6 leaks dumped their meme token.
Follow ForkLog on social media
Telegram (main channel)
Facebook
X