Robinhood Chain Hit by $18M Memecoin Fraud Operation

A coordinated $18.43 million memecoin fraud operation has been exposed on Robinhood Chain, according to blockchain investigator Wazz.

The scheme involved 53 projects launched between July 10 and September 21, 2026, with most launches occurring on the Pons V2 platform.

Crypto creators exploited anti-sniping tax exemptions to allow select wallets to acquire up to 86% of token supplies immediately after launch. The top three extractions included CRUMBS ($3.12M), LEGS ($2.9M), and PINK ($1.44M).