Launch platform Ignition: Former members sell 15 million tokens

The official account of the token launch platform Ignition on Robinhood Chain stated that the team provided an explanation after being silent for about a week. On October 23, a team member with access to the developer wallet (0x7d17…69B9) transferred 15 million IGNITION from that wallet to a new wallet without the consent of the other members and sold it seconds later. The proceeds were sent to their personal wallet, which had previously been receiving their share of creator fees. The official statement indicated that this person no longer agrees with the project's direction and is no longer part of the project.

The official statement mentioned that the creator fee permissions have been transferred to a new wallet that is solely controlled by the existing team. The launch platform is still operational, the Hook Layer testnet continues to run, and the Hook Pad for developers remains open. Future plans include transferring creator fees to a multi-signature wallet controlled by the team to prevent a single person from transferring again; publicly disclosing the fee, treasury, and team wallet lists; advancing the Hook Layer mainnet; and resuming weekly updates. The official also stated that related operations had previously been visible on-chain and will be explained by the team in advance.

According to the project's official website, Ignition is a token launch platform deployed on Robinhood Chain, with issued tokens being ERC20 with a fixed supply, trading in the Uniswap v4 pool since the initial block. Hook Layer is its proprietary chain built on Robinhood Chain, with gas fees paid in IGNITION, and developers can configure hook modules for tokens through Hook Pad.