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On-chain analyst Wazz revealed that a single team, within two months, manipulated 53 Pons V2 launches to withdraw at least $18.43 million from the Robinhood Chain meme coin market. The Block independently verified on-chain that the creators used an exemption from the anti-sniping tax mechanism, allowing the whitelisted wallets to snap up almost all available token supply. (Background: The most dogecoin-loving Mark Cuban: “Every meme coin is a potential Rug pull—no one should hold onto any illusions.”) (Additional context: PONS’ daily fees jumped to $4.22 million, overtaking pump.fun! Tokens also surged to new highs at the same time.) On Sunday, on-chain analyst Wazz published an investigative report on X revealing that over roughly two months, a single team controlled 53 meme coin launches, withdrawing at least $18.43 million (about NT$570 million) from the Robinhood Chain. The Block’s independent verification of on-chain data confirmed that 10 of the launches that went live through Pons V2 indeed involved manipulation, and it fully traced a fund flow from DRAFT to DEED. The creator’s whitelisted wallets, Wazz said, wiped out the bonding curve—after launch, nearly every launch was bought up by a set of 70 to 200 wallets, which together acquired more than 70% of the token supply. Most tokens were funneled through Pons V2, the leading token launchpad on Robinhood Chain. Pons V2’s design charges a 99% “snipe tax” on buy orders in the first few seconds after opening to deter bots, but creators can exempt that tax for up to 32 wallets. The Block’s on-chain analysis found that all nine launches since late August show the same pattern: the creator’s launch transaction exempts the snipe tax for 15 to 25 wallets, and then after 1 to 3 blocks, a single trade buys all tokens for those wallets at once. Each time, that trade fully empties the bonding curve and pushes the tokens into an Uniswap v4 liquidity pool—after launch, the creator and the exempt wallets already hold 82% to 86% of the supply. A chain of funds ties together 45 launches. Using a fund-flow tracking method, Wazz linked 45 launches into the same operation: the proceeds from one launch are funneled into the next token’s funding wallet. They also grouped the other eight launches into the same set using shared private keys (used to sign batch funding transactions across multiple launches) and a shared collection wallet for receiving funds. “The proceeds from the previous launch pay the key for the next launch,” Wazz wrote in the X post. I just uncovered the biggest serial Rugpulling and Extraction operation on Robinhood The same operation is linked 53 launches within a 2 month period Total Extracted: $18.43 MILLION very likely more this is just what I could directly link https://t.co/wS62KAbvv5 pic.twitter.com/BSxZL9wU44 — Wazz (@WazzCrypto) September 27, 2026 CRUMBS, LEGS, and PINK—the three largest withdrawals. Among the 53 launches Wazz listed, CRUMBS was the largest single withdrawal in dollar terms, at $3.12 million. The project claims it will let users turn purchase receipts into “stock token reward incentives” for their shopping companies. Next were LEGS at $2.9 million and PINK at $1.44 million. Wazz said they also identified at least two groups of different consecutive deployers, but couldn’t link them to this team. Wazz also pointed out that the list includes three launches named CRUMBS, three named PINK, and three named DEED, and all of them went live within about a day of each other. Wazz accused the team of first draining funds with fake high-hype tokens, then later revealing the “real” contract address. DRAFT to DEED—The Block verified the traced fund flow. Wazz started the investigation with a launch called DEED, noting that its funds came from an earlier DRAFT. The Block confirmed each transaction described by Wazz on-chain. At 9:36 a.m. (ET) on September 14, 98 wallets holding DRAFT each sent ETH to the same address within 3 seconds, totaling 179.88 ETH. That address then transferred the entire amount to a wallet beginning with 0x9d06. A week later, at 7:09 p.m. on September 21, 0x9d06 sent 50 ETH, and then another address sent 20 ETH, two minutes later, to a wallet starting with 0xf268. After 16 seconds, 0xf268 split-and-sent 15.98 ETH in batches to 50 addresses; the recipients included the DEED creator, the wallet responsible for the DEED opening buy order, and 24 other wallets that the creator exempted from the snipe tax. Forty minutes later, DEED officially launched. After the opening buy, the creator and the exempt wallets held 86% of the supply. One-second sell, cross-chain wash trading, and hidden funds via DAI. The 92 wallets funded by 0xf268 started selling one second after DEED went live, receiving 130.75 ETH from the Uniswap pool. The DEED creator then withdrew 69.06 ETH in creator fees from Pons’ fee escrow contract. In total, about 199.8 ETH—roughly $535,000 at the time. The funds didn’t stay put. On September 24, 0x9d06 deposited about 86.5 ETH into the Relay contract for a cross-chain bridge. The Relay delivered about 86.3 ETH on the Ethereum mainnet; the address then exchanged it for about 231,000 DAI and transferred it to a new address the next day. As of the time The Block published, the funds were still sitting there. Wazz told The Block that most of these funds were stored in ETH form, so they couldn’t be frozen. They used the ETH price at the time each launch occurred…