Robinhood Chain, the recently launched Ethereum Layer 2 network, has experienced a surge in transaction activity that nearly matches Base’s daily count within just 1.5 weeks, according to data shared by Token Terminal. The network also topped $70 million in bridged ETH, signaling strong early adoption. However, this growth is being overshadowed by reports of scam tokens that have led to permanent losses for some users.
Relay Protocol confirmed that a number of users purchased malicious memecoins designed to vanish from wallets immediately after the transaction. This resulted in the loss of funds used for those purchases. Relay stated that while the scam tokens disappeared, users’ wallets and private keys remained secure, indicating that the exploit was at the token contract level rather than a broader wallet vulnerability.
Social media complaints and shared screenshots highlighted the issue, raising concerns about token safety on the network. The incident underscores the risks associated with early-stage ecosystems, where scam tokens can proliferate despite the underlying chain’s rapid growth. As Robinhood Chain continues to attract users, the balance between scaling and security remains a critical focal point for the platform.
