Robinhood Chain Memecoin Probe Reveals $18M Mystery

TLDR

• An onchain investigation claims one operation extracted at least $18.43 million from 53 Robinhood Chain memecoin launches.
• Analyst Wazz said most launches were sniped by 70 to 200 wallets that captured at least 70% of the token supply.
• Several launches used Pons V2, where creators allegedly exempted buyer wallets from the platform’s anti-sniping tax.
• DEED was linked to earlier DRAFT proceeds, with funded wallets and the creator receiving large ETH payouts.
• CRUMBS was the biggest listed extraction at $3.12 million, followed by LEGS at $2.9 million and PINK at $1.44 million.

An onchain investigation says one operation extracted at least $18.43 million from 53 memecoin launches on Robinhood Chain across two months. The Robinhood Chain memecoin review came from pseudonymous analyst Wazz, who posted findings on X Sunday.

I just uncovered the biggest serial Rugpulling and Extraction operation on Robinhood

The same operation is linked 53 launches within a 2 month period

Total Extracted: $18.43 MILLION

very likely more this is just what I could directly link

🧵 https://t.co/wS62KAbvv5 pic.twitter.com/BSxZL9wU44

— Wazz (@WazzCrypto) September 27, 2026

The report said bundles of 70 to 200 wallets bought at least 70% of supply in nearly every launch. A separate review of chain data confirmed 10 listed launches and one linked fund route, while it did not confirm the $18.43 million figure. The case adds to crypto market activity across chains.

Launch Pattern and Wallet Funding

Most tokens in the review used Pons V2, the leading launchpad on Robinhood Chain. Pons sells new tokens through a bonding curve and uses a 99% anti-sniping tax in the first seconds after launch. The tax falls to zero in about five seconds.

Creators can waive that tax for up to 32 addresses. In nine launches from late August onward, creators exempted 15 to 25 wallets before one batch transaction bought tokens for each wallet. That trade emptied the bonding curve and moved the token into a Uniswap v4 pool. The pattern appeared during a week that also brought fresh stablecoin oversight news.

DEED Flow and Seller Proceeds

Wazz cited DEED as the launch that started the review. Funds from an earlier token, DRAFT, moved through linked wallets before 50 addresses received 15.98 ETH. Those wallets included DEED’s creator, the opening-buy wallet, and 24 tax-exempt wallets.

DEED launched about 40 minutes later. The creator and exempt wallets held 86% of the supply after the opening buy. Funded wallets later received 130.75 ETH from sales, while the creator withdrew 69.06 ETH in fees.

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Robinhood Chain memecoin Activity Faces Scrutiny

CRUMBS ranked as the largest listed extraction at $3.12 million, followed by LEGS at $2.9 million and PINK at $1.44 million. Wazz also said two other serial deployers may exist, but they did not link them to this group. The case followed broader digital asset regulation coverage last week.

Meet Crumbs, built on Robinhood Chain.

Shop at Costco, get $COST. Buy from Apple, get $AAPL.

Turn eligible receipts into stock-token rewards from the companies you already shop with.

Join us before launch: https://t.co/o1JlAKnlsV pic.twitter.com/h6Pa4gArE7

— Crumbs (@crumbsfamily) September 8, 2026

Robinhood launched Robinhood Chain on July 1 as an Ethereum layer 2 built with Arbitrum technology. Robinhood Chain memecoin launches and stock-linked tokens have driven much of its early trading. The review focuses on launchpad controls, wallet links, and buyer protection issues.