- Wazz linked 53 Robinhood Chain launches through wallet activity.
- Investigation traced at least $18.43 million from token launches.
- Supply concentration appeared across bundled wallet transactions.
An onchain investigation has linked Robinhood Chain memecoin launches to a suspected coordinated operation that extracted at least $18.43 million. Blockchain investigator Wazz published findings on September 27, identifying 53 connected token launches over roughly two months. The analysis traced wallet activity, funding flows, and repeated deployment patterns across multiple projects.
Robinhood Chain Launches Show Wallet Connections
According to Wazz’s analysis, 45 of the 53 launches were connected through fund movements between wallets. Four additional launches shared private keys used for funding batches, while another four involved a common collector wallet.
The investigation found that groups of 70 to 200 wallets acquired many tokens. These wallets collectively controlled more than 70% of supply shortly after launch, according to the analysis.
Most identified launches used Pons V2, a token launch platform operating on Robinhood Chain. The platform includes anti-sniping measures, but Wazz alleged that some creators used exemptions to coordinate opening purchases across multiple wallets.
CRUMBS represented the largest traced extraction at about $3.12 million, followed by LEGS at $2.9 million and PINK at $1.44 million. Wazz stated that the $18.43 million figure covers only funds directly linked to the operation.
Robinhood Chain Permissionless Design Draws Attention
Robinhood Chain launched as an Ethereum Layer 2 built with Arbitrum technology, allowing developers to deploy applications without individual approvals from the network operator.
The investigation does not allege that Robinhood created or supported the launches. Instead, it focuses on wallet patterns and token distribution structures observed across multiple projects.
Separate research from Bitquery identified suspected wash trading activity involving several Robinhood Chain memecoins. That analysis remains separate from Wazz’s findings and does not establish that the same actors controlled both activities.
No individuals behind the wallets have been publicly identified. The investigation shows blockchain records connecting token launches, concentrated ownership patterns, and repeated fund transfers between wallets.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
