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FollowingNew chains are launched, old routines are reproduced
Robinhood Crypto Chain will launch the public main network on July 1, 2026, positioning itself as an Arbitum-based Ethereum Layer 2, designed to tokenize real-world assets and decentralized finance. According to reports, the launch of the chain has launched tokenized stock trading in more than 120 countries, along with a decentralized lending product. Rapid response: According to online data quoted by multiple media, within one week of launch, the chain has attracted more than US$240 million in deposits, with trading volume on the first day reaching approximately US$570 million.
This momentum attracts far more than legitimate traders. Within a few days of launch, a wave of classic new chain fraud has arrived. According to media reports, criminals are deploying honeypot contracts, memin escape scams, phishing links and wallet thieves, and social media is flooded with user complaints about losses.
How fraud works and how much does the trader lose?
The method is simple and cruel. Reports say Relay Protocol, the main cross-chain interoperability platform, confirmed that it has received user reports that tokens disappear from wallets immediately after purchase. In some cases, fraudulent contracts accept token redemption, briefly credit the token into the buyer\'s wallet, and then immediately transfer the token back to the deployer\'s wallet. In other words, users unknowingly buy tokens for others. Honeypots typically operate by allowing users to purchase tokens while hard-coding rules prevent them from being sold, or triggering funds to be automatically transferred to an attacker\'s wallet.
The amount of personal losses ranges from low to high. One holder claimed a loss of $56,000 on a single honeypot contract, although this figure should be regarded as an unconfirmed personal account. Traders also warned that some tokens have backdoors. \"ROGE on Robinhood Chain is 100% honey pot, and contracts have backdoors,\" wrote one trader, a comment quoted in the media.
The fundamental driving factor is structure. The permission-free nature of the network allows criminals to deploy fraudulent tokens on a large scale. In addition to legal stock token projects, early on-chain activities have been severely saturated with a large number of fake tokens and memes, creating an environment that can easily catch inexperienced traders off guard. Relay Protocol said it is actively blocking problematic tokens that arise and verifying security tokens, but the speed of new deployments makes this work an ongoing challenge.
This pattern is not unique to Robinhood Chain. It reflects the wave of fraud that has accompanied the launch of other high-profile Layer 2 networks such as Base and Blast in recent years. A new license-free chain with a large retail user base is an obvious goal. Robinhood has nearly 28 million customers in 38 countries, which means a large number of inexperienced online users may be attracted.
Currently, security professionals recommend verifying contract addresses before trading, conducting small test redemptions before investing large amounts of money, and treating any token that shows significant buying pressure but zero selling activity as a serious red flag.
