Analyst Ties 53 Robinhood Chain Token Launches to One Rug-Pull Ring

Fifty-three token launches on Robinhood Chain were one operation, according to tracing an on-chain analyst published on Sunday. Wazz, who posts pseudonymously as @WazzCrypto, put the amount taken out at a minimum of $18.43 million between 10 July and 21 September. The case rests on money moving between the wallets that collected proceeds from one launch and the wallets that seeded the next. Five outlets carried the thread inside a day. None of them checked the tracing themselves.

How the launches were linked to each other

Wazz sorts the 53 into three sets. Forty-five were joined by payment flows between collection and funding wallets. Four shared private keys. Four more ran through common collector wallets. The arithmetic closes at 53.

"The proceeds of one launch pay the key that funds the next," Wazz said.

The snipe tax, and who sat outside it

Pons V2, the launchpad these tokens used, opens every launch with a 99% buy tax that falls to zero over five seconds. The tax is there to stop bots taking the supply in the opening block, and creator wallets are exempt from it by design. Wazz's argument is that the exemption list was the instrument. Wallets on it bought the bulk of each supply in seconds at no tax, while anyone arriving normally paid 99% to get in. Pons has been the busiest venue on a chain whose daily fee take swung by orders of magnitude through September.

Two counts of the wallets, and they do not agree

The Block, which carried the story on Sunday evening, says creators exempted 15 to 25 wallets per launch, and that those wallets held 70% to 86% of supply within seconds of trading opening. Crypto Briefing and The Crypto Times both put it at 70 to 200 linked wallets per operation. Those ranges do not reconcile. The Crypto Times adds bundle sizes for the three biggest takes, 92 wallets on CRUMBS, 77 on LEGS and 125 on PINK, which sits closer to its own range than to The Block's. We could not establish what each count is measuring.

What the trail shows once the money leaves

DEED, the token that started the investigation, did not reach the top ten by amount taken on Wazz's own reckoning. CRUMBS was the largest at $3.12 million, then LEGS at $2.9 million and PINK at $1.44 million. The Block's account of the DEED sequence runs like this: on 14 September, 98 holders of an earlier token called DRAFT sent a combined 179.88 ETH to a single wallet. DEED launched a week later with 86% of supply in creator and exempt hands, and about 199.8 ETH came back out, roughly $535,000 at the prices The Block used. Three days on, the same wallet moved about 86.5 ETH into the Relay cross-chain bridge, and about 86.3 ETH surfaced on Ethereum as some 231,000 DAI.

Nobody is on the record yet

The proceeds sit mostly in ETH, which no issuer can freeze, and that is the practical ceiling on whatever comes next. Robinhood Chain went live on 1 July and its daily fees peaked near $6 million earlier this month, a scale that has drawn heavy launch activity to it alongside the tenth of net revenue it routes to Arbitrum. The Block says it approached Pons and Robinhood; no reply from either is on the record, and no other outlet reports one. Wazz says the real figure may run past $18.43 million, which is a statement about what has not been traced rather than about what has. Everything above comes from one party, and it stands unverified.