$18.43M Memecoin Extraction Linked to Single Rug-Pull Operation

A single operation extracted at least $18.43 million from 53 memecoin launches on Robinhood Chain over roughly two months, according to an onchain investigation published by pseudonymous analyst Wazz.

The launches were mostly through Pons V2, the leading token launchpad on the Robinhood Chain, and most of the tokens were sniped for 70% or more of their supply in under a second. The same pattern shows up in nine launches from late August onward, where the creator's launch transaction waived the anti-sniping tax for 15 to 25 wallets.

The Block's analysis confirmed Wazz's findings and matched all 10 onchain launches listed in his thread. One of the fund flows used to tie launches together was verified by The Block. The operation involved bundling a set of wallets, which then bought out each launch in under a second, with most of the money sitting in ETH.