$18M Stolen: Operation Exposed in Robinhood Memecoin Probe
An onchain investigation revealed that an operation extracted at least $18.43 million from 53 memecoin launches on Robinhood Chain across two months.
The review, conducted by pseudonymous analyst Wazz, found that bundles of 70 to 200 wallets bought at least 70% of the supply in nearly every launch.
Most tokens used Pons V2, which sells new tokens through a bonding curve and uses a 99% anti-sniping tax. However, creators waived this tax for up to 32 addresses in nine launches, allowing one batch transaction to buy tokens for each wallet and move the token into a Uniswap v4 pool.
DEED was linked to earlier DRAFT proceeds, with funded wallets and the creator receiving large ETH payouts. CRUMBS ranked as the largest listed extraction at $3.12 million, followed by LEGS at $2.9 million and PINK at $1.44 million.