An on-chain investigator has tied a long run of memecoin launches on Robinhood Chain to what he describes as one repeating extraction operation. On September 27, 2026, the analyst known as Wazz published a thread arguing that the same crew could be linked to 53 token launches across roughly two months.
The amount he said he could connect directly was $18.43 million.
He added that the true total is probably larger, because that figure only covers the launches he could stitch together with on-chain evidence.
The inquiry began with unusual activity around a token called DEED.
That coin was not one of the biggest cash-outs.
Following its funding trail, however, led Wazz into a wider map of wallets, collection addresses, and launch keys that kept reappearing.
Most of the tokens were issued through Pons V2, the main launchpad on the young network.
Wazz said nearly every launch was sniped at the open.
Bundles of 70 to 200 wallets often took 70 percent or more of supply within a second.
Once those wallets controlled the float, the operators pushed hype, sometimes with decoy contracts and fake first launches, then sold into buyers who arrived later.
The strongest links, in his account, are money flows.
Forty-five of the 53 launches were joined by payments from one project’s collection wallet into the funding wallet of the next token.
In several cases the transfer happened within seconds. Four other launches shared a private key used to fund batches of sniper wallets.
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
Four more shared a collector address.
Wazz published one concrete path.
Wallets tied to a token called DRAFT swept 179.88 ETH into a hub. That hub paid a hop wallet, which sent 20 ETH to DEED’s funding key. Sixteen seconds later, that key signed DEED’s funding batch.
He said 45 launches follow that same pattern.
The three largest extractions on his list were CRUMBS at about $3.12 million, LEGS at $2.9 million, and PINK at $1.44 million.
Some projects also used pre-launch contracts to pull attention before the official address was revealed.
Robinhood Chain went live on July 1, 2026 as an Arbitrum Orbit Layer 2 built for tokenized stocks and other real-world assets.
Permissionless deployment and fast, cheap launches quickly made it a busy memecoin venue.
That mix of speed, novelty, and thin reputation history is familiar ground for serial operators who recycle profits from one dump into the next coin.
Wazz also said he found two other serial launch clusters on the same chain.
He left those out of the 53-token count and the $18.43 million estimate, which means the broader risk on the network may be larger than one ring.
The thread is an on-chain reconstruction, not a court ruling.
It still offers a practical checklist.
Extreme holder concentration at launch, tax or sniper-protection exemptions for selected wallets, reused funding keys, and profits moving into the next deployer within minutes are all warning signs.
Traders looking at brand-new tokens should inspect who paid the deployer, how clustered early buyers are, and whether the same wallet graph appears across supposedly separate projects.