Trader Says BitGo Code Changes Helped Front-Run Robinhood Listings for $6 Million

According to ChainCatcher citing The Block, a trader using the alias @3i said the team bought Cash Cat and PONS ahead of their listings on Robinhood Chain, earning more than $6 million combined. The Block verified several public records and found wallet activity consistent with parts of the timeline, but could not verify the claimed profits. The trader said the team had tracked Wintermute wallets on Robinhood Chain and BitGo’s GitHub activity since July. On July 27, a BitGo developer changed code in the public BitGoJS repository to add Cash Cat to Robinhood Chain’s token list; the change was merged the next day. BitGo released a new version on July 29 that also added support for 99 Robinhood Chain stock tokens. Robinhood listed Cash Cat on August 6. The trader said the team began buying Cash Cat on August 3 after its monitoring bot detected Wintermute approving a related trading pool. The wallet eventually bought about 15 million tokens, or 1.5% of the supply, and the team said it made more than $4 million by selling after the listing. The article was viewed more than 300,000 times after it was posted on Saturday. The trader said the team began buying PONS on August 28 and made $2 million with a friend, but did not explain how they identified the token. He described its September 2 listing as an apparent honeypot designed by Robinhood to catch insiders and said most of the information advantage described had disappeared. On September 15, the U.S. Department of Justice accused two former Robinhood engineers of allegedly trading perpetual contracts on Hyperliquid ahead of listing announcements, in a case involving alleged commodities and wire fraud.