GoPlus Security team identified a high-risk meme-coin fraud operation on Robinhood Chain involving hundreds of tokens. Over the past 30 days, the operation generated two-way flows of about 3,589.14 ETH, worth approximately $9.49 million. Its central collection address held about 56.06 ETH, or $148,000, as of Sept. 28, 2026, and had processed about 1,385 transactions. In the latest 400 transactions, it received about 1,728.02 ETH and transferred out about 1,861.12 ETH. The reported pattern involves approving or selling tokens, converting holdings into ETH, and sending the funds to the same collection address. The operation creates tokens, distributes them across numerous new EOA (externally owned account) wallets, sells them in stages through PonsV2Helper or UniversalRouter, consolidates the ETH, and reuses the funds for subsequent projects, new wallets and trading activity.