Ponzi & Scams
By Evie Vavasseur
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$56,000 Gone in a Single Contract Exploit. The biggest single hit researchers flagged involved a hacked smart contract tied to a memecoin…
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Memecoins Dominate Early Trading. Here's the part that makes the broader picture worse: memecoins make up over 75% of recent trading…
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Robinhood's new blockchain is already bleeding users dry. The mainnet went live July 1, and within days, traders were posting loss after loss on social media — scam tokens,…
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Relay Protocol moved fast, issuing warnings about fraudulent tokens circulating on Robinhood Chain.
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One trader said Robinhood Wallet's default settings auto-filled a scam coin called USER during a transaction.
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The biggest single hit researchers flagged involved a hacked smart contract tied to a memecoin called CASHCAT. One holder lost $56,000.
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There's also HOODIE, an AI-branded Robinhood Chain memecoin that halved in value in a single afternoon.
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A user lost $350 when a Robinhood Chain asset swap on OpenSea redirected coins to an unauthorized address.
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Related: Crypto Trader Loses $1 Million After Approving a Single Bad Token
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Some researchers and traders have started calling the situation a "rug mania." That's a loaded phrase in crypto circles — it basically means the environment has become so…
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The calls for fixes are getting louder. Traders are pushing for the revoke-approvals feature to be enabled — a tool that lets users undo smart contract authorizations after the…
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Permissionless blockchains carry this risk by design. Anyone can deploy a contract, which is the whole point — but it also means anyone can deploy a malicious one.
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Related: Injective npm Package Hit by Backdoor Attack Targeting Crypto Wallet Keys
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And so far, Robinhood hasn't said anything publicly about what happened to the users who lost money, whether any remediation is planned, or how the platform intends to handle the…
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