Pseudonymous onchain analyst Wazz alleged that at least $18.43M was extracted from 53 token launches on Robinhood Chain between July 10 and September 21, 2024, with CRUMPS ($3.12M), LEGS ($2.9M), and PINK ($1.44M) leading the figures. Evidence points to coordinated launches exploiting Pons V2 launchpad’s anti-sniping exemptions, allowing groups of 70 to 200 wallets to acquire 70% or more of token supply before public buyers could participate. Fund flow analysis linked 45 launches through sequential payments between funding wallets, with approximately $535,000 recovered from DEED token sales alone. Robinhood Chain, launched July 1 with subsidized gas costs, reached a record $6M in daily fees this month, creating ideal conditions for such extraction schemes.
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