On-chain analyst Wazz traced a set of linked operations on Robinhood Chain: over the more than two months from July 10 to September 21, 53 token issuances pulled at least $18.43 million—though this is only the portion that can be directly linked; the real scale is likely much larger.
These 53 issuances weren’t acting independently. In 45 cases, the transactions could be directly connected via fund flows—money from the previous “harvest” was sent straight to the wallets needed for the next round of token issuance. Additionally, 4 times the same private key was used to sign the fund distribution transactions, and in another 4 instances, all funds were consolidated into the same wallet. In other words, this pipeline doesn’t require ongoing external capital injection; it can automatically trigger the next round using the spoils from the previous one.
In terms of method, almost every issuance involved a coordinated effort of 70 to 200 associated wallets to grab more than 70% of the supply. Even more notable is that they used a launch platform called Pons V2, which was designed with a “99% sniping tax” to prevent bots from accumulating. But the creators themselves set up tax-free channels for 15 to 25 wallets, allowing their own people to obtain most of the chips painlessly—one transaction empties the liquidity pool.
The report includes a specific case: after harvesting the token DRAFT, 179.88 ETH was transferred to the account of the next token, DEED, within 40 minutes. That DEED transaction then separately swiped roughly $535,000. Looking at CRUMBS, LEGS, and PINK individually: they pulled out $3.12 million, $2.90 million, and $1.44 million, respectively.
Some issuances also place a fake contract first to attract attention and bait a burst of buying; once the hype rises, they then discard it and reveal the real contract address. Retail traders rush in believing they’ve found an “early opportunity,” but in reality, from start to finish it’s been laid out to provide exit liquidity for others. This isn’t just a scattered rug-pull by a trash token project—it’s a self-sustaining pipeline that can repeatedly operate and “self-generate.”
The above is for subjective analysis only and does not constitute investment advice.
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