TL;DR
- Robinhood Alleged extraction: Wazz connected 53 token launches to an operation estimated to have extracted at least $18.43 million, with 45 launches linked by recurring fund movements.
- Wallet activity: Nearly every launch was reportedly sniped for more than 70% of supply, often through bundles of 70 to 200 wallets. A DRAFT-to-DEED trail moved 179.88 ETH through a hub before 20 ETH reached a funding key.
- Funds and revenue: Much of the identified money remains in ETH. Network revenue reportedly reached around $50 million to date across reported monthly figures.
Onchain analyst Wazz has alleged that an organized token extraction operation pulled at least $18.43 million from 53 launches on Robinhood Chain over two months. The investigation connects wallets and transactions through fund movements between launches. Wazz cautioned that the estimated total could be higher because only funds directly connected onchain were included.
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
Investigation Traces Funding Across Dozens of Launches
The probe began with DEED, although Wazz said it was not among the 10 launches that saw the most funds extracted. Instead, the analysis uncovered a wider Robinhood pattern, where proceeds from one launch were routed through a hub before funding another. According to Wazz, 45 of the 53 Robinhood launches were connected through this funding pattern.
Four additional launches shared private keys used to sign funding batches, and another four were tied to a collector wallet receiving proceeds from multiple launches. Nearly every launch was reportedly sniped for more than 70% of its token supply, commonly using bundles of 70 to 200 wallets. Most were created through Pons V2, adding another recurring element to the alleged Robinhood operation.
DRAFT and DEED Transfers Show Rapid Fund Movement
One example connected DRAFT with DEED. Wazz said 98 wallets tied to DRAFT transferred 179.88 ETH into a hub. That hub funded another wallet, which sent 20 ETH to the DEED funding key. Only 16 seconds later, the same key signed DEED’s funding batch on Robinhood Chain. The analyst also found repeated token names appearing before actual launches.
These earlier launches may have been used to generate hype and extract funds before the real contract address was announced. Three PINK, three CRUMBS, and three DEED launches were linked to the same alleged Robinhood network. Wazz estimated $3.12 million was extracted through CRUMBS and $1.44 million through PINK.
ETH Holdings Complicate Recovery of Alleged Proceeds
Wazz also flagged at least two other serial deployment operations not directly tied to the identified Robinhood network. Those separate operations allegedly extracted millions across dozens of launches. Much of the identified money remains in ETH, meaning the assets cannot simply be frozen. Meme coins and tokenized stocks have become major sources of trading activity on Robinhood Chain, an Arbitrum-based Ethereum Layer 2 launched in July. Robinhood has reported around $50 million in network revenue to date, rising from roughly $3 million in July and $7 million in August to approximately $40 million in September.
