Analyst Traced 53 Robinhood Chain Token Launches to One $18M Operation

A pseudonymous on-chain analyst linked 53 token launches on Robinhood Chain to one operation that extracted at least $18.43 million between July 10 and September 21, 2026.

Wazz published the findings on X on September 27. The claim is large, and the wallet links have not all been independently verified. But checks of nine opening buys, one funding flow and the tax exemptions behind several launches support the pattern he described.

For anyone watching new tokens on the chain, the warning is specific: bundled buyers, waived anti-sniping fees and a concentrated opening supply were not unusual in this group.

How Wazz tied 53 launches together

Wazz said nearly every launch in his list had 70% or more of its supply bought in the opening moments by bundles of 70 to 200 wallets.

The money trail connected most of the projects. Wazz linked 45 launches by tracing payment from one token's collection wallet to the wallet that funded the next launch. Another four shared private keys that signed batch funding transactions. Four more used the same collector wallet.

“What ties them together is money: the proceeds of one launch pay the key that funds the next,” Wazz wrote.

The largest listed extractions were CRUMBS at $3.12 million, LEGS at $2.9 million and PINK at $1.44 million. All three later fell by more than 99% from their peaks.

Wazz also alleged that some launches used familiar token names before the team announced a different, official contract address. Launches using the CRUMBS, PINK and DEED names appeared in his list.

The anti-sniping tax did not stop the bundles

Pons V2, the launchpad linked to many of these launches, normally charges a 99% tax on buys during the first seconds of a token sale. The tax falls to zero in about five seconds. Creators can waive it for as many as 32 addresses.

An independent on-chain check examined nine launches from late August. In each one, the creator waived the tax for 15 to 25 wallets. One to three blocks later, a single transaction bought for every exempt wallet. The creator and those wallets ended with 82% to 86% of supply, and the token moved into a Uniswap v4 pool.

Those opening buys all used the same contract, created on August 28. Wazz identified it as belonging to a commercial bundling tool. The tool also served unrelated users: 25 of the 53 launches in his list used it.

That distinction matters. The contract is not proof of one coordinated group. The repeated use of tax exemptions, bundled purchases and concentrated supply is the stronger signal.

DEED shows where the money moved

The on-chain record for DEED adds detail to Wazz's account.

Forty minutes before DEED went live, an address sent 15.98 ETH in one batch transfer to 50 addresses. Those included the creator, the wallet paying for the opening buy and 24 tax-exempt wallets. After launch, the creator and those wallets held 86% of supply.

The funded wallets began selling one second after launch, while the creator withdrew creator fees from Pons' fee escrow contract. The available flow came to about 199.8 ETH, worth roughly $535,000 when checked. That was below the 228.92 ETH in Wazz's table, a gap that has not been reconciled.

On September 24, about 86.5 ETH from a linked address was bridged to Ethereum through Relay. It was swapped for roughly 231,000 DAI and moved to a new address. Roughly $18.11 million from the wider operation remains unspent across Robinhood Chain and Ethereum, mostly in ETH.

Wazz said the holdings could not be frozen. An on-chain review confirmed nine launches and one fund flow, but did not reproduce the full $18.43 million total. BeInCrypto also has not independently verified every wallet linkage.

A pattern wider than one launch

This does not prove that every Robinhood Chain launch with bundled wallets belongs to the same operation. The 70% concentration pattern alone does not identify the controllers, and a commercial bundling contract can serve unrelated teams.

But Wazz did not describe one token or a single copied wallet. He connected 53 launches through collection payments, shared funding keys, collector wallets, batch transfers and exemptions. He also identified at least two other serial deployers using a similar model that he could not link to this group.

That points to a repeatable launch risk rather than one isolated bad launch. The rule for buyers is narrower than “avoid Robinhood Chain”: treat a waived anti-sniping tax, hundreds of opening wallets and most of supply bought within seconds as a reason to inspect the contract, creator wallet and funding source before buying.

Robinhood Chain activity has since cooled, although transaction counts held near records, according to earlier Altcoin Buzz data. The relevant risk remains. A high-volume launch can still be coordinated into a single opening transaction.