Onchain analyst links $18.4 million in Robinhood Chain memecoin extractions to single rug-pull operation

What happened

Onchain data shows creators of 10 Pons V2 launches exempted certain wallets from the anti-sniping tax, and those wallets then bought most of each token's supply, extracting $18.4 million on Robinhood Chain.

Confirmed

Global impact / market context

This matters because memecoin buyers can lose money when a few wallets control most supply. If insiders can buy early without the anti-sniping tax, ordinary investors face sudden price drops and illiquid holdings.

Analyst inference

This episode points to weak launch safeguards on Robinhood Chain, where anti-sniping tools are meant to stop early bulk buying but can be bypassed. Similar rug-pull patterns could reduce trust, trading volume and capital flowing into memecoins.

Analyst inference

What to watch

1. Watch whether the 10 Pons V2 launches and the $18.4 million extraction lead to platform or chain changes to wallet exemptions. Confirmed
2. Watch for any proposal to remove or tighten wallet exemptions from the anti-sniping tax in Pons V2 launches. Proposed
3. Watch whether traders reduce memecoin buying, hold stablecoins instead, or move to launches with clearer rules and locked team supply. Analyst inference

Affected assets

• DEFI — DeFi

Evidence

• theblock.co