Within hours, the token’s trading volume surged to $22 million. Its price skyrocketed by over 90,000% to trade at around $0.0026. The contract accumulated 5,266 holders and 137,000 transfers on Robinhood Chain.  In a typical rug pull, the hacker would have made away with all the liquidity, leaving buyers holding worthless tokens. In this scenario, however, the attacker launched the memecoin using the Pons launchpad. The platform locked all the liquidity but allowed any token creator to withdraw trading fees, which is what this hacker did. By repeatedly calling on the fee function, he was able to make off with 650 ETH (worth about $1.2-$1.3 million at the time).