Buyers on Robinhood Chain lost funds after purchasing tokens that disappeared from their wallets. Cross-chain protocol Relay reported the incidents on July 13 and said private keys and other balances remained untouched.
Relay said the losses stemmed from scam tokens designed to remove themselves after purchase on the new network. The firm is blocking such tokens as they appear and verifying assets it deems safe.
Robinhood Chain launched its permissionless Ethereum Layer 2 mainnet on July 1. Relay noted an increase in these dubious tokens amid a surge in speculative trading on the chain.
The incidents were not linked to wallet compromises or Robinhood brokerage accounts. Relay did not release contract addresses or transaction details, leaving the scope unverified.
Robinhood's general scam guidance advises users to review transaction details before signing. The cause and total losses remain undisclosed.
