The X account claiming ties to FARTCOIN promoted a wallet-address airdrop as Relay Protocol warned some malicious tokens on Robinhood Chain can vanish from buyers’ wallets after purchase.
A suspected crypto scammer using the X account name “Fartcoin Dev” said it would launch a new $HOODFART token on Robinhood Chain, spend more than $50,000 promoting it and distribute a potential airdrop to users who post wallet addresses. The account claimed it had previously launched FARTCOIN, which it said surpassed a $1 billion market capitalization and reached major exchanges. The pitch lands as scam concerns mount on Robinhood Chain, whose public mainnet went live on July 1. The network’s permissionless design lets anyone deploy tokens and support low-cost swaps, but that same openness can also enable fake projects, copycat coins and other malicious assets. Relay Protocol (multichain payments and bridging network) said on July 9 that some scam tokens on Robinhood Chain were built to disappear from users’ wallets after purchase. Relay said the issue was not tied to stolen private keys or full wallet hacks, and that other assets in affected wallets remain safe. Instead, it said certain malicious tokens may briefly appear in a buyer’s wallet before being sent back to the token creator, leaving the buyer without the purchased asset. Reports from other users and researchers have also flagged honeypot tokens (tokens that trap buyers), wallet drainers (tools that empty approved funds) and smart contracts (self-executing blockchain code) that can exploit user approvals. Robinhood told The Crypto Times that Robinhood Wallet uses Blockaid to warn users about known or suspected scam tokens and to filter tokens given a malicious rating. Robinhood also said such risks are common across permissionless chains, not unique to Robinhood Chain. Relay urged users to trade verified tokens from trusted sources and warned that funds spent on confirmed scam purchases may not be recoverable.