Security· ★★★· bearish·

Bitquery links 56 Robinhood Chain memecoin launches to $15.5M rug-pull operation

  • —Bitquery pegs the group's proceeds at $15.5 million, down from an earlier $18.43 million estimate
  • —56 memecoin launches from July 10 to September 23 are tied to one group
  • —25 tax-exempt wallets bought about two-thirds of the DEED token supply
  • —Pons collected just 1.9 ETH in snipe tax across 35 launches linked to the group
Why it matters: The scheme shows how launchpad mechanics let coordinated traders systematically extract value from retail memecoin buyers.
Source: Cryptonews.net
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