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Wazz traces $18.43 million pulled from 53 Robinhood Chain memecoins to one wallet crew
On-chain investigator Wazz ties 53 Robinhood Chain memecoin launches to one crew he says pulled out $18.43 million in about two months. For buyers on the network, that makes the wallet that funded a token's deployer the first thing to check.
The Investor · Invest desk
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What happened
- Wazz said nearly every launch was sniped at the open, with bundles of 70 to 200 wallets often taking 70% or more of supply within a second.
- Most of the tokens were issued through Pons V2, the main launchpad on Robinhood Chain.
- The largest extractions on his list were CRUMBS at about $3.12 million, LEGS at $2.9 million and PINK at $1.44 million.
- Robinhood Chain went live on July 1, 2026 as an Arbitrum Orbit layer 2 built for tokenized stocks and other real-world assets.
Compiled by The InvestorSomething wrong?How this is made
Why it matters
- cost Buyers who arrive after the bundles fund the exits, and a crew that moves each take into the next deployer can keep drawing on that pool while launches stay cheap.
- decision Diligence on a new Robinhood Chain token becomes a wallet check done before buying: who paid the deployer, how clustered the first buyers are, and whether the graph repeats across projects.
- exposure Pons V2 carries the platform risk: most of the tokens came through it, so any cap on how much supply a wallet bundle can take at the open would have to be written into its launches.
Spread across 53 launches, the $18.43 million Wazz could trace comes to about $348,000 each [1]. The three largest add up to $7.46 million, roughly 40% of the total [2]. Take them out and the other 50 averaged about $219,000 apiece [3]. The operation ran at close to one launch a day for roughly two months [4], on a chain that was 88 days old when his September 27 thread went up [1] [8]. Permissionless deployment and cheap, fast launches had made the network a busy memecoin venue [13].
In the one path Wazz published, wallets tied to a token called DRAFT swept 179.88 ETH into a hub, a hop wallet passed 20 ETH on to DEED's funding key, and that key signed DEED's funding batch 16 seconds later [10]. The seed for DEED was about 11% of the DRAFT sweep [5]. DEED was not one of the big cash-outs, but its funding trail led Wazz to the wallets, collection addresses and launch keys that kept reappearing [3].
The case for a single crew rests on three kinds of link. Forty-five launches are joined by payments from one project's collection wallet into the next token's funding wallet, several within seconds [7]. Four share a private key used to fund batches of sniper wallets [8], and four more share a collector address [9]. Together they cover all 53 [6], with 85% resting on money flows [7], the links Wazz's account treats as strongest [15]. He wrote: "I just uncovered the biggest serial Rugpulling and Extraction operation on Robinhood" [17].
The ring could be smaller than he draws it. Crowdfund Insider notes that the thread is an on-chain reconstruction, not a court ruling [16], and the eight launches tied only by a shared key or collector address sit outside the money-flow evidence [6]. It could be larger. Wazz wrote that the total is "very likely more this is just what I could directly link" [18], and he kept two other serial launch clusters on the chain out of the count [14]. Or the crew could matter less than the launch process it used: the sniping at the open happened on launches that mostly ran through Pons V2 [4] [5], and whatever let one bundle take most of the float in a second is open to the next operator as well.
I think the third reading is the one that matters for anyone buying the chain's tokens. The $18.43 million is money taken from later buyers, or rather the share of it one analyst could trace, since the operators sold into people who arrived after the bundles [6]. The counter-case is scale. Crowdfund Insider's account does not include total launches or memecoin volume on Pons V2, so the 53 launches [1] and $18.43 million [2] cannot be set against a market size. Launch data showing most Pons V2 tokens opening with dispersed holders would prove this view wrong, and the two excluded clusters showing the same concentration at the open would support it.
Part of the ring's effort went into the pitch: decoy contracts and fake first launches [6], plus pre-launch contracts that drew attention before the official address was out [21]. The warning signs in Crowdfund Insider's checklist sit in the wallets instead, in holder concentration at launch, tax or sniper-protection exemptions for selected wallets, reused funding keys and profits moving to the next deployer within minutes [19].
What to watch
- Any response from Pons V2 or Robinhood Chain on wallet-bundle sniping at launch, such as limits on the share of supply taken in the first second.
- Publication of the two clusters Wazz left out, and whether their funding wallets connect to the 53-launch graph.
- Independent checks of the eight launches tied only by a shared private key or collector address, outside the money-flow links.