ChainCatcher reported that on-chain analyst Wazz has identified what he described as an organized serial rug-pull and fund-extraction group operating on Robinhood. According to Wazz, the group was linked to 53 token launches over the past two months, with directly traceable extracted funds reaching $18.43 million. He added that the real figure could be higher.
Wazz said the operation followed a repeatable pattern. Proceeds from one launch were moved within seconds into the starter wallet for the next launch, creating a visible chain of funding across multiple token issuances. He also said each launch involved 70 to 200 wallets used for bundled sniping, allowing the group to capture more than 70% of token supply. Most of the launches were carried out through the Pons V2 platform.
He further alleged that the group created hype before official launches by staging “fake launches,” drawing in market attention before releasing the real contract address. Wazz said the token that triggered this investigation, $DEED, did not even rank among the top 10 cases by extracted amount.
ChainCatcher reported that on-chain analyst Wazz said an organized serial rug-pull and fund-extraction group is operating on Robinhood. Over the past two months, the group was linked to 53 token launches, with directly traceable extracted funds totaling $18.43 million. Wazz said the real amount may be higher.
How the funding chain was structured
According to Wazz, the group used a highly systematic method. Funds raised from each launch were sent within seconds to the starter wallet for the next launch, creating a continuous chain of capital across multiple issuances.
For each token launch, the group used 70 to 200 wallets for bundled sniping and captured more than 70% of supply. Most of the launches were carried out through the Pons V2 platform.
“Fake launches” before the real contract address
Wazz also said the group would generate attention ahead of official launches by staging “fake launches,” harvesting market sentiment before publishing the real contract address in order to maximize extraction returns.
He added that $DEED, the token that led to this investigation, did not even make the top 10 by extracted amount.
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