Anti-Snipe Tax Turned Self-Enrichment Tool: Pons V2's 10 Projects Expose $18.4M Rug Pull Operation

Anti-snipe taxes were originally designed to protect buyers—preventing bots from front-running purchases the moment a token launches and then dumping on retail investors at inflated prices. But according to on-chain analysts tracking activity on the Pons V2 platform on Robinhood Chain, this mechanism was flipped on its head.

According to The Block, the founders behind 10 token projects on Pons V2 whitelisted a specific set of wallets at deployment, exempting them from the anti-snipe tax restrictions. The tax was supposed to put all buyers on equal footing—but these exempted wallets didn't just avoid missing the starting line; they exploited the loophole to snap up the majority of circulating supply in each token.

On-chain data shows the combined scale of funds across these 10 projects reached $18.4 million. Analysts have attributed the similarity in these patterns—the same whitelisting tactic, the same supply concentration outcome—to a single operator behind this rug pull scheme.

As of now, there has been no official response from the Pons platform or Robinhood Chain regarding this matter, nor further clarification on the specific identities of these exempted wallets or the subsequent flow of funds.