Robinhood Chain syndicate linked to $18M rug-pull scheme

An on-chain analyst, Wazz, has identified a massive coordinated rug-pull operation on the Robinhood Chain involving 53 different token launches. The syndicate is estimated to have drained at least $18.43 million from investors, though the actual figure may be higher.

The group allegedly used a methodical playbook by exploiting the Pons V2 token launch platform. By designating specific wallets to be exempt from anti-sniping fees, the syndicate was able to use bundle transactions to secure over 70% of the total token supply within seconds of launch. Once the supply was concentrated, they orchestrated hype campaigns to attract retail investors before rapidly selling their holdings and abandoning the projects.

Analysis shows the operation functioned as a self-funding cycle, where profits extracted from one fraudulent launch were used to seed the next. The investigator traced 45 launches through direct fund flows, four through shared private keys, and four through common collector wallets. The largest single extraction identified was $3.12 million from a single operation.