Robinhood Chain’s $1.5 billion boom is attracting memecoin rug factories
GoPlus reported a suspected memecoin operation on Robinhood Chain that moved about $9.49 million in gross flows through a consolidation wallet over 30 days. The group allegedly used newly created wallets to buy and sell tokens, then routed proceeds into related addresses to fund later launches. The flows do not establish net profit or investor losses. The activity resembles a separate operation previously identified by researcher Wazz, but there is no evidence the groups share operators. Both allegedly used wallet clusters and Pons V2 infrastructure to disguise concentrated ownership and staged selling. The findings raise concerns about scam detection as Robinhood Chain grows: the Ethereum layer-2 launched July 1 and surpassed $1.5 billion in total value locked within three months.
