Analyst: Rug Pull Gang Behind Robinhood-Listed Token Issued 53 Tokens Over Two Months, Siphoning $18.43 Million
TechFlow reports that on September 27, on-chain analyst Wazz (@WazzCrypto) revealed an organized syndicate orchestrating serial rug pulls and fund drains on Robinhood. Over the past two months, the group has been linked to 53 token launches, with directly traceable drained funds totaling $18.43 million, though the actual amount may be higher.
The group's operational methodology is highly systematic: funds raised from each launch are funneled into the initiation wallet for the subsequent launch within seconds, forming a continuous funding chain. Each token launch utilizes bundled sniping across 70 to 200 wallets to secure more than 70% of the total supply, predominantly distributed via the Pons V2 platform. Additionally, prior to official launches, the syndicate generates hype around “fake launches” to preemptively harvest market sentiment, only to release the legitimate contract addresses afterward to maximize drainage profits. Notably, even the trigger token for this investigation, $DEED, failed to crack the top ten for drained amounts.
