How an $18.4 Million Memecoin Rug Pull Slipped Past Anti-Sniping Protection
Sep 28, 2026
An onchain analyst traced $18.4 million in extracted funds from Robinhood Chain memecoins back to a single operation that quietly exempted its own wallets from anti-sniping rules.
A Clever Way Around the Rules
Anti-sniping taxes are supposed to stop bots and insiders from scooping up a new token the second it launches. But according to onchain data, the creators behind 10 different Pons V2 token launches found a loophole: they simply exempted a set of their own wallets from that tax.
Those exempted wallets then went on to buy up most of the supply in each token, before dumping on regular buyers who never had a fair shot.
The Damage: $18.4 Million
An onchain analyst linked all ten launches to a single rug-pull operation, with total extractions estimated at $18.4 million on Robinhood Chain.
It's a good reminder that anti-sniping features are only as trustworthy as the team that configures them. If a project can quietly whitelist itself, the protection is basically decorative. Always worth checking who controls these settings before buying into a fresh launch.