Over $18.4 Million Allegedly Extracted in Robinhood Chain Token Launch Scheme

Onchain analyst Wazz reported an organized extraction operation involving 53 token launches on Robinhood Chain over two months. The investigation identified a network of 45 connected launches sharing funding keys and wallet relationships, with proceeds often funneled through a central hub. The analyst estimates at least $18.43 million was extracted, noting that many launches utilized fake contract addresses to generate hype before the actual deployment.