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

Traders expect Bitcoin to rally following the midterm elections, as the largest Bitcoin position on Derive bets the cryptocurrency will surge above $90,000 in November.

On decentralized options platform Derive, a wallet purchased 800 Bitcoin call options on Oct 20: the options expire Nov 6 with a $90,000 strike price, carrying a nominal value of roughly $68 million. The wallet netted about $94 million by selling call options expiring March 2027 and Oct 30. Derive noted this is the platform’s largest Bitcoin open interest position. The market-implied probability of Bitcoin breaking $100,000 before Christmas rose from 9.7% to 12%, indicating some traders are betting on Bitcoin’s rally following the U.S. midterm elections.

2 minutes ago

Hong Kong stocks open higher, with the Tech Index gaining 0.74% and Zhipu surging over 4%.

According to Bitget market data, today's Hong Kong stock market opened higher: the Hang Seng Index rose 0.21% at open, the Technology Index gained 0.74%, Zhipu AI climbed over 4%, and MINIMAX-W rose 3.62%.

2 minutes ago

Two crypto whales deposited over 5,000 ETH into CEXs in nearly two hours, signaling a potential sell-off.

According to on-chain analyst Ai Yi (@ai_9684xtpa)’s monitoring, address 0x882…42058 deposited 2558.5 ETH to Kraken two hours ago, valued at $5.9 million. The address built up positions in batches between 2025 and 2026, with an average entry price of around $2,880; a sale now would likely see it exit at a loss. Separately, address 0x5a3…Cf9F5, dormant for 11 months, redeemed 2511 ETH from Aave two hours ago and deposited all of it into Binance, worth $5.79 million.

2 minutes ago

South Korea's KOSPI surged more than 4% intraday, activating the trading curb mechanism.

According to Bitget market data, South Korea’s KOSPI index rose more than 4% in intraday trading today, and the Korea Exchange has activated the sidecar mechanism for the index.

2 minutes ago

DeFi Development accumulated 5,346 SOL, bringing its total holdings to approximately 2.595 million SOL.

Solana's treasury DeFi Development unit has increased its holdings by 5,346 SOL, bringing its total holdings to approximately 2.595 million SOL.

2 minutes ago

MARA Holdings reportedly sold 1,000 BTC approximately 6 hours ago, with the transaction valued at roughly $80.19 million.

According to Lookonchain's monitoring, Bitcoin mining company MARA Holdings transferred 1,000 BTC to Bitgo six hours ago, in a transaction suspected to be a sell operation, valued at approximately $80.19 million.

2 minutes ago

Popular tokens

BitcoinEthereumHyperliquidSolanaTRONBNBTetherAaveXRPPepeFartcoinOndoJupiterUniswapBonkPendleEthenaArbitrumAvalancheLidoChainlinkPolygonDogecoinCardano