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Points of Focus
- Onchain analyst Wazz linked 53 Robinhood Chain token launches to at least $18.43 million in alleged extractions.
- Wazz traced 45 launches through fund flows and linked eight more through shared keys or collection wallets.
- Most launches allegedly used 70-200 wallets to acquire more than 70% of the token supply.
A single operation may have extracted at least $18.43 million across 53 token launches on Robinhood Chain between July 10 and Sept. 21, according to an onchain investigation by pseudonymous analyst Wazz.
Wazz linked the launches through recurring fund flows, shared wallet infrastructure, and a pattern in which groups of wallets acquired most of a token’s supply around launch. The findings allege coordinated activity by unidentified wallets, not a breach of Robinhood Chain.
In a Sunday thread, Wazz said the traceable amount could be higher because the analysis covered only launches the analyst could connect onchain.
I just uncovered the biggest serial Rugpulling and Extraction operation on Robinhood
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
🧵 https://t.co/wS62KAbvv5 pic.twitter.com/BSxZL9wU44
— Wazz (@WazzCrypto) September 27, 2026
Pons v2 launch settings allowed tax-exempt wallets
Most of the tokens Wazz identified were launched through Pons v2 on Robinhood Chain. Pons docs show that opening buys face a 99% anti-sniping tax that falls to zero over five seconds.
The protocol also lets creators exempt up to 32 additional addresses from that tax for team purchases. The launching address and creator fee recipient are automatically exempt.
Wazz said most of the 53 launches used bundles of 70-200 wallets that acquired more than 70% of supply. The documented exemption feature itself is part of Pons v2’s launch design, so its use alone doesn’t establish that a wallet was part of the alleged operation.
Wazz traces funds between 53 token launches
Wazz linked 45 of the 53 launches through fund flows from earlier tokens into wallets associated with later launches. Four more were connected through shared signing keys, while the remaining four were linked through common collection wallets.
The analyst said proceeds from one token were repeatedly routed toward wallets funding subsequent launches, creating a trail between projects that otherwise appeared separate.
DEED prompted the investigation, according to Wazz, though it wasn’t among the 10 largest alleged extractions. The analyst identified CRUMBS as the largest, at about $3.12 million.
Here are the top 3 launches investigations:
robinhood:0x80baa4b3bfac6f4978700df824b1b3d98e889136
Total $3.12M extracted pic.twitter.com/XL4IENftIQ
— Wazz (@WazzCrypto) September 27, 2026
Robinhood Chain operates as a permissionless network
Wazz’s investigation doesn’t identify Robinhood or Pons as operators of the alleged scheme, and no person behind the wallets has been publicly identified or charged.
Robinhood describes its chain as a permissionless Ethereum-compatible layer 2 where anyone can build applications and deploy smart contracts. The company launched its public mainnet on July 1, nine days before the earliest launch in Wazz’s data set.
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