Robinhood Faces 53 Token Rug Pulls on Chain, Involving $18.43 Million
On-chain analyst Wazz has discovered a large-scale series of continuous rug pulls and fund withdrawals on Robinhood's platform, involving at least 53 token issuances over the past two months, with a total amount of $18.43 million, and the actual scale may be even higher. The flow of funds between these projects is clearly interconnected, with the profits from one project typically being used in the key wallet of the next project within seconds. Almost all projects are targeted upon launch, capturing over 70% of the token supply, and are packaged through 70 to 200 wallets, primarily issued via Pons V2. Some projects also engage in false issuances, attracting funds through hype and pre-heating, before revealing the actual contract address to increase the scale of fund withdrawals. Among these, the CRUMBS project has the highest amount of funds withdrawn, totaling approximately $3.12 million.
-- Price
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