TREE NEWS reports: GoPlus security researchers flagged a high-risk meme coin fraud factory on Robinhood Chain that generated roughly 3,589.14 ETH, about $9.49 million, in two-way volume over the past 30 days across hundreds of fraudulent tokens. Its fund-collection address held about 56.06 ETH, roughly $148,000, as of Sept. 28, 2026, with some 1,385 transactions. Tokens follow a path of approval or sale, ETH liquidation, then transfer into the same collection address.
Robinhood Chain Hit by Meme Coin Fraud Factory Moving $9.49M in 30 Days
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AI take
The significance here is less the dollar figure than the venue: Robinhood Chain's consumer-facing branding makes it an attractive surface for industrial-scale token fraud, and GoPlus's ability to trace hundreds of tokens into a single collection address suggests the operation is centralized rather than organic. The pattern described — approval or sale, ETH liquidation, then consolidation — is an assembly line, not a one-off rug. What matters next is whether the chain's operators or the projects launching there treat this as a detection problem or a listing-policy problem; the concentration in one address is the kind of clue that either gets acted on quickly or becomes a standing feature of the ecosystem.
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