Operations at Vlad.fun, a launchpad for memecoins on the Robinhood Chain, have been suspended following the discovery of what the project described as a “serious internal integrity issue” implicating members of its own team.

In a statement on Wednesday, the project confirmed it had taken the platform offline. This measure allows for an investigation into the incident and for consultation with legal counsel regarding potential action to be taken against the responsible individuals. Vlad.fun has not disclosed the specific nature of the alleged misconduct.

Hours before the shutdown was announced, Vlad.fun issued a warning to users about an unofficial token that was circulating on its leaderboard and bore the platform's name. The project reminded traders that because the launchpad is permissionless, anyone has the ability to create tokens. It remains unconfirmed by the project whether there is a connection between the two incidents.

The underlying network, Robinhood Chain, was introduced by Robinhood on July 1. It is an Arbitrum-based Ethereum layer 2 network designed with a focus on tokenized stocks, real-world assets, and on-chain financial services. However, according to Galaxy Digital, memecoins quickly became the network’s dominant use case within days of its launch.