A coordinated operation may have extracted at least $18.43 million from 53 memecoin launches on Robinhood Chain between July 10 and September 21, based on an investigation by pseudonymous analyst Wazz.
The $18.43 million total is the analyst’s estimate and was not independently reproduced in full. However, The Block verified the launch mechanics across 10 identified tokens and confirmed one of the fund flows connecting separate launches. The report was published two minutes after the preceding Evening scan’s cutoff. The Block
Nine launches followed a consistent pattern. Their creators exempted 15 to 25 selected wallets from Pons V2’s anti-sniping tax. Within one to three blocks, a bundled transaction bought through the bonding curve, leaving the creator and exempted wallets controlling between 82% and 86% of the token supply.
The Block also traced 179.88 ETH collected from wallets associated with DRAFT into a funding chain connected with the later DEED launch. DEED’s selected wallets began selling one second after launch, while its creator withdrew 69.06 ETH in fees.
Approximately 86.5 ETH was later sent through the Relay bridge to Ethereum, where about 86.3 ETH was converted into roughly 231,000 DAI. That stablecoin balance remained in a new wallet when the report was published.
Pons V2’s exemption was designed to let legitimate teams bundle opening purchases. The verified transaction pattern shows how the same feature can concentrate supply among creator-selected wallets before ordinary buyers can react. Pons and Robinhood had not publicly responded when the investigation was published.
TOKEN RECON ASSESSMENT
The verified intelligence is narrower than the $18.43 million headline but still serious. Ten launches show creator-approved wallets bypassing an anti-sniping mechanism and capturing most of the supply almost immediately.
Robinhood Chain’s credibility now depends partly on whether the launchpad and network provide contract-level warnings, wallet clustering or other defenses against repeated bundled extractions. Permissionless deployment does not require approving tokens, but rapid fraud detection becomes essential when one launch mechanism is repeatedly used in the same way.
