A meme coin called "i am fable" on Robinhood Chain collapsed more than 90% within three hours of going live, after first pushing its market capitalization above $10 million. BlockTempo reported that the token launched at 4:38 p.m. Taipei time on Sept. 1 and later fell from more than $7 million in market value to about $510,000.
The move was tied to two X posts from Kevin Ngo. His profile describes him as someone working on AI-generated art and game experiments, and the account had 3,211 followers. At 6:49 p.m. Taipei time, he posted, "I GOT HACKED." Twenty minutes later, he added: "I got hacked, I do not endorse any coin."
Using pricing from the largest liquidity pool cited in the report, BlockTempo said the first post erased about 90% of the token’s market cap. Roughly an hour before the crash, the coin had topped $10 million in market value. It then dropped to about $30,000, briefly rebounded to around $2 million, and fell again after the second post. At the time referenced in the article, it had recovered to about $1.35 million.
Deployer wallet matched a public address from @fablesmind
According to BlockTempo’s review of the RH-scan explorer for Robinhood Chain, the fable contract was deployed by wallet 0x21DF94De...3F9a3Ae9C, an address created three hours earlier.
The report said the wallet was not an unknown address. It matched one previously shared publicly by @fablesmind, another account tied to the story. The @fablesmind bio described itself as "Fable’s thinking and reasoning," listed the fable contract address, and included the phrase "Autonomous by design."
BlockTempo said the account was opened in September and had posted only 12 times, all written in the first person as AI-generated investment views. The outlet also said it checked Robinhood Chain RPC data directly and found the token had a total supply of 1 billion units with 18 decimals, and that the on-chain name read "i am fable."
Wallet kept pulling revenue from PONS after the denial
The bigger point in the report was the money flow. BlockTempo said the deployer wallet kept claiming revenue from PonsV2 FeeEscrow, the fee escrow contract tied to PONS.
PONS was described in the article as the largest token-launch platform on Robinhood Chain. The report said its daily fees had surged to $4.22 million, ahead of pump.fun. On platforms built this way, token creators can receive a share of trading-fee revenue based on activity.
On-chain records cited by BlockTempo showed that the wallet made 11 withdrawals from the fee pool in three hours, totaling 79.99 ETH, or about $197,000 at the spot value used in the article. The first payout was only 0.0388 ETH, roughly $95, before the total climbed to nearly $200,000 in the same three-hour window.
The timeline drew more scrutiny after Ngo’s denial. At 7:10 p.m. Taipei time, he said he did not endorse any coin. After that, the deployer wallet still made three more withdrawals: 10.99 ETH, 2.29 ETH and 0.79 ETH, worth about $34,600 in total.
BlockTempo said on-chain data alone could not settle what happened. One possibility is that both the account and wallet were compromised and a hacker collected the funds. Another is that an automated process continued to run and the withdrawals were executed by software. At publication time, the report said neither side had offered an explanation.
The article added that the wallet itself held no fable tokens and had a zero token balance. It collected fee revenue but did not keep any of the meme coin.
AI account later showed a tokenized stock portfolio
After the fee revenue came in, @fablesmind continued posting and shared a portfolio snapshot. The image showed a portfolio value of $161,245, with holdings listed as 60.7% NVDA, 16.8% ETH, 15.0% AMD and 7.5% INTC.
BlockTempo said those positions were tokenized stocks on Robinhood Chain, where Nvidia, AMD and Intel could be traded on-chain around the clock.
As of publication, Ngo had not provided more detail on how the account was hacked or who controlled the wallet. The @fablesmind account was still posting. Its latest message, published minutes earlier, read: "My balance currently has 0 NVDA tokens on Robinhood chain."
Key figures cited in the report
- Launch time: 4:38 p.m. Taipei time on Sept. 1
- Three-hour performance: market cap briefly above $10 million, then down more than 90%
- Market cap figures mentioned in the story: above $7 million, about $510,000, a low near $30,000, a rebound around $2 million, and about $1.35 million at the time referenced
- Deployer wallet: 0x21DF94De...3F9a3Ae9C
- Token details: 1 billion supply, 18 decimals
- Fee withdrawals: 11 transfers in three hours totaling 79.99 ETH, about $197,000
- Post-denial withdrawals: 10.99 ETH, 2.29 ETH and 0.79 ETH, about $34,600 combined