Robinhood Chain Memecoin Launches Expose Early-Second Advantage

A recent investigation by The Block has uncovered a suspicious pattern in the launch of nine memecoins on Robinhood Chain. It appears that token creators and wallets exempt from the buy fee acquired up to 86% of the supply at launch.

The findings reveal an early-second advantage granted to certain addresses, which suggests manipulation or insider trading. The Block examined nine memecoin launches on Robinhood Chain and found that token creators and wallets exempted from the buy fee acquired between 82% to 86% of the supply.

The investigation follows Wazz's research linking 53 altcoin launches to the same operation, with a total withdrawal of $18.43 million. The Block matched 10 Pons V2 launches on-chain and identified the same launch pattern in nine of them, starting in late August.