Robinhood Chain Tied to Coordinated Rug-Pull Operation Worth Over $18M

On Robinhood Chain, an Ethereum Layer 2 built with Arbitrum technology, at least 53 token launches have been linked to a coordinated rug-pull operation. According to on-chain analyst Wazz, this operation extracted $18.43 million over roughly two months.

The alleged operation used 70 to 200 wallets per launch and acquired more than 70% of each token’s supply. Profits from one launch were then routed into wallets used for another within seconds, creating a repeated funding cycle.

CRUMBS was identified as the largest alleged cash-out at approximately $3.12 million, while DEED prompted the investigation but did not rank among the 10 largest alleged withdrawals.