Wazz links $18.43 million to alleged Robinhood Chain rug pull

Wazz said a single operation extracted at least $18.43 million from 53 Robinhood Chain memecoin launches over roughly two months. Wazz said nearly every launch was sniped for 70% or more of its supply by bundles of 70 to 200 wallets. Onchain data matched 10 launches from Wazz's list. The $18.43 million total was not independently replicated. Wazz linked 45 launches through payments from one collection wallet to the next funding wallet. Wazz linked four more launches through private keys used for multiple batch funding transactions. Wazz linked another four launches through a shared collector wallet. Wazz said most tokens were launched through Pons V2. Pons V2 documentation says the launchpad charges a 99% snipe tax on buys during the first seconds after launch. The tax falls to zero in about five seconds. Creators can waive the tax for up to 32 addresses. Nine launches from late August onward waived the tax for 15 to 25 wallets. A single transaction bought tokens for each exempt wallet one to three blocks later. The creator and exempt wallets held 82% to 86% of supply after those opening buys. All nine opening buys used one unverified contract created on Aug. 28. Wazz said the contract belongs to a commercial bundling tool with many unrelated users. Of the 53 launches on Wazz's list, 25 used the contract for their opening buys. The operator of the tool could not be determined. EQUITY used a looser version of the pattern on Aug. 12. Its creator exempted 31 wallets from the snipe tax. Twenty-one of those wallets bought within about a second of launch. The wallets and the creator held 65.7% of supply. Wazz alleged that the group ran fake launches of hyped tokens before announcing the real contract address. Wazz said proceeds from DRAFT funded DEED. On Sept. 14, 98 wallets that had held DRAFT sent a combined 179.88 ETH to the same address within three seconds. That address forwarded the amount to a wallet beginning 0x9d06. On Sept. 21, the 0x9d06 wallet sent 50 ETH to another address. That address sent 20 ETH to a wallet beginning 0xf268 two minutes later. Sixteen seconds later, 0xf268 sent 15.98 ETH to 50 addresses. DEED went live 40 minutes later. The creator and exempt wallets held 86% of DEED's supply after the opening buy. The 92 wallets funded by 0xf268 received 130.75 ETH from selling DEED into its Uniswap pool. Those wallets began selling one second after launch. DEED's creator pulled 69.06 ETH in creator fees from Pons' fee escrow contract. The covered wallets received about 199.8 ETH in total. Wazz listed 228.92 ETH for DEED. Wazz said their figure covered 98 wallets and included 67.55 ETH in creator fees. Wazz's figure fell to 212.94 ETH after subtracting the 15.98 ETH funding transfer. On Sept. 24, the 0x9d06 wallet deposited about 86.5 ETH into a Relay bridge contract. Relay delivered about 86.3 ETH to an Ethereum wallet. That wallet swapped the ETH for about 231,000 DAI. Robinhood launched Robinhood Chain on July 1. Pons fees later drove the network to a record $6 million in one day.