Analyst Exposes $18.43M Robinhood Chain Memecoin Rug Ring
- Memecoins
- DeFi
On-chain analyst Wazz tied 53 separate memecoin launches on Robinhood Chain to a single coordinated rug-pull operation that extracted $18.43 million. The group accumulated over 70 percent of each token supply before retail buyers arrived. Supply concentration and tax-exemption patterns confirmed the activity was not isolated scams.
Incident Details
- Type
- RUG PULL
- Funds Lost
- $18.4M
- Status
- Total loss
CT labels the activity a single organized ring rather than independent rugs.