Suspected Rug Pull on Robinhood Chain's DEED Token, Deployer Profits Nearly $900,000

BlockBeats news, September 23, according to Onchain Lens monitoring, the DEED token on Robinhood Chain is suspected to have undergone a Rug Pull.

The token issuance was highly concentrated, with up to 110 associated wallets controlling about 86% of the supply at its peak, cumulatively withdrawing approximately $700,000 in funds; the project team's wallet also claimed 68.5 ETH (about $188,900) in creator fees.

DEED's market cap has dropped from a peak of $4.23 million to about $55,000, a decline of 98.7%.