53 Memecoins, $18 Million: How Robinhood Chain's Anti-Bot Tax Was Bypassed

Analyst Wazz says 53 memecoin launches on Robinhood Chain trace to a scheme that extracted at least $18.43 million between July 10 and September 21. Dozens of wallets authorized to buy most of each token's supply at launch resold it to other investors, funding the next launch. They exploited a Pons V2 rule exempting up to 32 addresses from its anti-sniping tax (up to 99%), cornering up to 86% of supply. The Block confirmed this on 10 tokens; some funds left Robinhood Chain and became 231,000 DAI on Ethereum.