A researcher uncovered a serial rugpull operation on Robinhood Chain where the same group launched 53 tokens over 2 months, extracting $18.43 million using bundle wallets to snipe 70%+ of supply and recycling proceeds into subsequent launches. The scheme was detected through on-chain analysis of funding flows and repeated private keys.
A serial rugpull operation on Robinhood Chain launched 53 fake tokens over 2 months, extracting $18.43 million using bundled wallets to snipe 70%+ of token supply and recycle proceeds into subsequent launches. The scheme was uncovered through on-chain fund tracing by researcher Wazz, revealing reused private keys and coordinated wallet patterns.
On-chain analyst Wazz identified 53 fake token launches on Robinhood Chain connected to a single rug-pull operation that extracted at least $18.43 million over two months. The scam used interconnected fund flows, shared private keys, and coordinated wallet sniping to steal from investors, with individual tokens like CRUMBS, LEGS, and PINK extracting millions each.
On-chain analyst Wazz identified 53 token launches on Robinhood Chain connected to a coordinated rug-pull operation that extracted at least $18.43 million over two months. The scheme used interconnected fund flows, shared private keys, and sniping wallets to manipulate supply, with individual tokens like CRUMBS, LEGS, and PINK extracting millions each.
Robinhood Chain saw mixed activity: legitimate integrations with Chainlink and RWA trading platforms gained traction, while on-chain analyst Wazz identified 53 token launches connected to a rug-pull operation that extracted at least $18.43 million over two months using coordinated wallet tactics and fake pre-launch contracts.