Analyst Traces 53 Token Launches on Robinhood Chain to Single $18M Rug Pull Operation
(4 days ago) · 1 source · Summarized by CryptoBipto
A blockchain analyst reportedly tracked 53 token launches on Robinhood Chain and linked them to a single coordinated operation that extracted approximately $18 million from investors. The investigation suggests a systematic pattern of launching tokens, attracting buyers, and then draining liquidity across multiple projects.
WHY IT MATTERS
A rug pull is like someone opening a lemonade stand, collecting money from customers, and then disappearing before serving any lemonade — except in crypto, it happens with tokens. In this case, an analyst claims the same group ran this scheme 53 times on a single blockchain, taking a total of $18 million. This story highlights a key risk for newcomers: on newer blockchains, there may be fewer safety tools and less community oversight, making it easier for scammers to operate repeatedly. It also shows the value of on-chain analysis — because every transaction on a blockchain is recorded publicly, skilled investigators can sometimes trace connections between wallets and expose coordinated fraud, even when the people behind it try to hide.
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- beincrypto.com
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