Lookonchain APP

App Store

Report: Rug Pull Incidents in the Crypto Space Have Decreased, but Their Impact Has Grown

2025.04.18 14:25:11

On April 18th, according to a report by Cointelegraph. Based on the latest report from the blockchain analytics platform DappRadar, there were 21 "Rug Pull" incidents in the early part of 2024. In contrast, there were only 7 incidents from 2025 to the present. This indicates a declining frequency year by year. However, since the early 2025, the Web3 ecosystem has lost nearly $6 billion due to such incidents. 92% of this loss was attributed to the collapse of Mantra's OM token (the token's founder denies this was a "Rug Pull"). In contrast, the total loss from "Rug Pull" incidents in the same period of 2024 was $90 million. DappRadar analyst Sara Gherghelas pointed out that although the frequency of such incidents has decreased, their destructiveness has increased. Scams are becoming more sophisticated and are often orchestrated by professional teams. The nature of these incidents is also evolving. Many incidents in the first quarter of 2024 originated from DeFi protocols, NFT projects, and Meme coins. While in the same period of 2025, they mostly occurred in the Meme coin space. Gherghelas also warned that a sudden surge in the number of active wallets, a high transaction volume but low user activity, unverified smart contracts, limited GitHub activity, anonymous developer teams, or projects with a sudden spike in DApp popularity could all be warning signs of a "Rug Pull."
Relevant content

Republican U.S. Senator: Situation Will Escalate If Iran Makes a Misstep

On April 5, U.S. Republican Senator Lindsey Graham posted on social media: "Just had a great chat with President Trump. I fully back his ultimatum to the Iranian regime—demand they open the Strait of Hormuz and strike a peace deal. If Iran makes the wrong call, they’ll face a large-scale military operation. That regime’s already taken a huge hit from U.S. military actions."

5 hours ago

Twitter co-founder Jack Dorsey to Launch Bitcoin Lightning Network Faucet

On April 4, Jack Dorsey—Twitter co-founder and leading Bitcoin initiatives at Block—will launch a Bitcoin faucet, marking the first such faucet in 16 years. Dorsey unveiled the faucet’s website, "btc.day," on X. Reports state the total distribution pool will be roughly $1 million in BTC (about 15 BTC), funded by Block’s Bitcoin treasury.

5 hours ago

Michael Saylor: Bitcoin's biggest risk is a catastrophic idea leading to a protocol change by human intervention

On April 4th, Michael Saylor tweeted: “Bitcoin has won. There’s global consensus that BTC is digital capital. Its four-year cycle has ended—price is now driven by capital flows. Banks and digital credit will shape Bitcoin’s growth trajectory. The biggest risk? A bad idea leading to a protocol change by fiat.”

5 hours ago

U.S. Department of State: Niece and Granddaughter of Deceased Iranian Islamic Revolutionary Guard Corps Quds Force Commander Arrested

April 4 — The niece and grandniece of the late Qasem Soleimani, commander of Iran’s Islamic Revolutionary Guard Corps (IRGC) Quds Force, were arrested by U.S. federal agents in the U.S. on Friday, the U.S. State Department announced. (Gold10)

5 hours ago

Trump: U.S. is 'Terminating the Iran Nuclear Deal'

On Saturday, April 4, Donald Trump said on Truth Social that the U.S. is "getting rid of the Iran nuclear issue" while emphasizing strong domestic economic data. He noted the latest figures show the U.S. added 178,000 new jobs, the trade deficit has dropped by 55% (dubbing the decline "the largest drop ever"), and credited tariffs for these outcomes.

5 hours ago

F2Pool Co-Founder Wang Chun: BTC Protocol Upgrade Should Not Involve "Political Compromise"

On April 4, F2Pool co-founder Wang Chun said in an X post that Bitcoin protocol upgrades should not adopt a "riders bill" approach—similar to how U.S. politicians push through "must-pass but unpopular provisions." This is also a key reason he opposes BIP-110 and BIP-54. Responding to whether fixes using BIP-54 have issues, Wang further noted the "Timewarp" problem has existed for years and offers no significant benefit to miners, since they can’t predict who will mine the next block. Its only practical use is disrupting some altcoins, which provides almost no real value to Bitcoin miners—so there’s no urgent need to modify it. Additionally, libsecp256k1 and hardware upgrades have drastically improved block validation efficiency, making protocol-level changes unnecessary. "Fake confirmed transactions" fundamentally depend on breaking a double SHA256 collision; if that were possible, it would mean Bitcoin Core’s security has been compromised. Wang added these issues aren’t enough to d

5 hours ago