Ignition Says Former Member Moved 15 Million IGNITION Tokens Before Selling

Ignition said a former team member moved 15 million IGNITION from a developer wallet to a new wallet and sold the tokens seconds later on Oct. 23. The project said the transfer was made without the rest of the team’s consent.

Ignition said the sale proceeds went to the member’s personal wallet, which had also received the person’s share of creator fees. The project said the member no longer agreed with its direction and was no longer part of it.

Ignition said it moved creator-fee permissions to a wallet controlled by the current team. It plans to transfer those fees to a team multisignature wallet and publish the fee, treasury and team wallet lists.

The project also plans to advance Hook Layer toward mainnet and resume weekly updates. Ignition said its launchpad remains operational, the Hook Layer testnet is running, and Hook Pad remains open to developers.

Ignition is a token launchpad on Robinhood Chain. It launches fixed-supply tokens that trade in Uniswap v4 pools from their first block. Hook Layer is a chain Ignition built on Robinhood Chain, where IGNITION is used for gas. Developers can use Hook Pad to configure token hook modules.