Memecoin

Pons

Robinhood

<p>An onchain investigation has linked 53 Robinhood Chain memecoin launches to a single alleged extraction operation that generated at least $18.43 million between July 10 and September 21, 2026.</p>
<p>The finding was published by pseudonymous onchain analyst Wazz and reported by <a href="https://www.theblock.co/news/defi/2026-09-27-onchain-analyst-links-18-4-million-in-robinhood-chain-memecoin-extractions-to-single-rug-pull-operation-416960" rel="noopener noreferrer nofollow">The Block</a> on September 27. The attribution is based on blockchain activity and wallet-funding patterns rather than a disclosed identity for the people behind the wallets.</p>
<h2 id="53-robinhood-chain-launches-tied-to-a-single-alleged-operation">53 Robinhood Chain launches tied to a single alleged operation</h2>
<p>Wazz’s analysis links 53 Robinhood Chain memecoin launches during a little over two months of the network’s early life to one alleged operation, with a reported minimum extraction total of $18.43 million.</p>
<p>The alleged activity involved Pons V2 launches. Its <a href="https://cryptodaily.co.uk/glossary/understanding-transaction-fees-in-blockchain-networks" rel="noopener noreferrer nofollow">anti-sniping charge</a> applies to purchases made immediately after launch, and the configuration described by Wazz gave selected wallets an advantage at the opening of trading by exempting them from that charge.</p>
<p>Funding and transaction flows among wallets tied to successive deployments supported the alleged link, according to the report. The pattern therefore extended beyond similarities between token launches and was presented as evidence of recurring operations rather than an isolated token.</p>
<h2 id="pons-v2-tax-exemptions-enabled-concentrated-opening-supply">Pons V2 tax exemptions enabled concentrated opening supply</h2>
<p>Pons V2’s <a href="https://ponsmcp.ai/protocol" rel="noopener noreferrer nofollow">documentation</a> describes a 99% snipe tax on purchases made in the first seconds after launch; the tax decays during that opening period, and creators can exempt a limited number of wallets.</p>
<p>The Block independently matched the reported launch pattern in 10 tokens listed in Wazz’s research: creators exempted groups of wallets from the anti-sniping tax, then bundled purchases acquired most of the respective supplies.</p>
<p>That finding is distinct from the protocol feature itself. The allegation, as reported by The Block, is that coordinated exemptions and opening purchases were repeatedly used to concentrate supply among wallets connected through funding flows. In the reviewed launches, exempt wallets could buy without the stated tax, while linked buyers acquired a dominant share.</p>
<h2 id="deed-funding-trail-shows-wallets-and-proceeds-being-recycled">DEED funding trail shows wallets and proceeds being recycled</h2>
<p>The Block reported that 179.88 ETH was swept from 98 wallets tied to an earlier launch, sent through intermediary wallets and used to fund 50 <a href="https://cryptodaily.co.uk/glossary/a-guide-to-crypto-wallet-addresses" rel="noopener noreferrer nofollow">addresses</a> before DEED launched 40 minutes later. After the opening purchase, the creator wallet and tax-exempt wallets held 86% of the token’s supply, according to The Block’s report.</p>
<p>The DEED sequence links an earlier launch’s wallet activity to buyer funding for a later launch, including proceeds routed through intermediary addresses and redeployed before DEED’s launch. The Block independently matched the launch pattern in 10 tokens, but that does not independently verify all 53 cases cited by pseudonymous analyst Wazz; the broader analysis alleges recurring funding flows, preselected tax-exempt buyers and concentrated opening allocations.</p>
<h2 id="memecoin-activity-became-an-early-robinhood-chain-revenue-driver">Memecoin activity became an early Robinhood Chain revenue driver</h2>
<p>Robinhood launched Robinhood Chain on July 1, 2026. The network is an Ethereum layer-2 built with Arbitrum technology, according to <a href="https://investors.robinhood.com/static-files/bc370835-4c9b-48dc-9668-5164148ed924" rel="noopener noreferrer nofollow">Robinhood Markets investor materials</a>.</p>
<p>The company’s materials said memecoin activity became a major driver of early trading and fee generation on the chain. That makes the alleged campaign relevant beyond the individual tokens: the launches occurred within one of the main sources of activity on a newly launched network.</p>
<p>Wazz’s reported timeframe begins nine days after Robinhood Chain went live and runs through September 21. The investigation therefore places the alleged activity across much of the chain’s initial period of memecoin-led trading and fee generation.</p>
<p>Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.</p>

Onchain Investigation Links $18.4M in Robinhood Chain Memecoin Extractions to One Operation

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