Overview
- A pseudonymous investigator known as Wazz published his findings on Sept. 27 linking $18.43 million taken from investors to one operation that ran 53 memecoin launches on Robinhood Chain.
- The group used Pons V2 launch mechanics to concentrate supply by coordinating 70–200 wallet addresses per token so creators and allied wallets held about 82–86% of supply after a single opening buy.
- Pons’ snipe-tax exemption allowed up to 32 whitelisted wallets to avoid a steep early fee and enabled a bulk purchase that drained the bonding-curve sale and sent the token into public trading almost instantly.
- Wazz tied the launches together with three on-chain methods—45 by direct funding flows, four by a shared private key, and four by a common collector wallet—and identified the largest cash-outs as CRUMBS ($3.12M), LEGS ($2.9M), and PINK ($1.44M).
- Most extracted funds remain in Ethereum, no individuals have been publicly charged, and the analyst flagged two other serial operations on the chain, signaling broader investor risk and limited immediate enforcement options.