A serial rug-pull gang has emerged on the Robinhood chain, issuing 53 tokens in two months.

BlockBeats reported on September 27 that on-chain analyst Wazz said he had found a suspected large-scale, continuous rug pull and fund extraction campaign on Robinhood Chain. The alleged activity is linked to at least 53 token launches over the past two months, with about $18.43 million in directly connected proceeds already identified, and the full amount may be larger.

A repeating sequence of launches

Wazz described the pattern as more than a collection of isolated project failures. The proceeds from one project usually appear to be moved within seconds to provide funding for key wallets used in the next launch. That timing creates a chain of events in which each new token appears to depend on the previous one for funding.

The scale comes from repetition rather than a single transaction. With at least 53 launches tied to the same suspected campaign, the report suggests that the operator may have cycled through multiple token deployments in a short period, using the same funding route to keep the process moving.

High supply capture and wallet bundles

The analyst said almost all of the projects were sniped at launch, with more than 70% of token supply taken at listing. The activity was carried out through 70 to 200 wallets, a range that points to bundled operations rather than a handful of independent buyers.

Many of the projects were issued through Pons V2, according to the report. The finding links the observed launches to that issuance route, but the report does not state that the route itself caused the alleged extraction.

Fake issuance and the largest known case

Wazz also said some projects may have used a fake issuance approach. In that pattern, a project is promoted before the real contract address is disclosed, using pre-launch attention to draw funds in advance. If the address changes after capital has already been pulled into the scheme, the amount extracted from later buyers can be larger than what a normal launch would show.

Among the cases investigated so far, CRUMBS appears to have the largest direct loss, with about $3.12 million linked to it. That figure is part of the broader $18.43 million total, and it remains unclear how much additional money may be tied to projects that have not yet been fully mapped.

What remains open

The report describes a suspected pattern, not a finalized account of who ran it. It identifies linked launches, rapid wallet funding, high supply capture, and possible staged contract disclosure, but it does not name the operators or confirm that every project was part of the same scheme.

For readers following Robinhood Chain, the details Wazz highlighted stand out: repeated use of bundled wallets, very high launch supply capture, and seconds-long transfers between project wallets. The next question is whether additional launches can be tied to the same flow and whether the directly linked total rises above $18.43 million.