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

Source: Officials: US Negotiators Arriving in Pakistan

April 21st — Xinhua: U.S. negotiators have arrived in Pakistan in succession over the past two days, per Pakistani sources.

1 seconds ago

Powell: More Inclined to Take Interest Rates as the Key Driver

April 21 — Federal Reserve Chair Nominee Jerome Powell said the U.S. economy is now approaching full employment overall. The Fed’s balance sheet is working against its dual mandate, he added, and the central bank is leaning more toward using interest rates as its primary policy tool. (FXstreet)

1 seconds ago

CNN: Voss's exact visit to Pakistan still TBD

CNN — As of April 21, the timing of U.S. Vice President Mike Pence’s planned trip to Pakistan remains unconfirmed, according to sources cited by the network. The White House will hold additional policy meetings Tuesday, with Pence set to participate, a White House official told CNN. Pence had been scheduled to depart for Islamabad Tuesday morning, but a key unresolved question lingers: whether an Iranian delegation will travel with him. As of late Tuesday morning local time, Iran had not yet decided whether to send officials to Pakistan for the second round of talks.

1 seconds ago

Iranian Parliament Speaker's Office Member: No Second Round of Talks Until Maritime Blockade Is Resolved

April 21 — A member of the presiding board of Iran’s Parliament, Nadri, told the Iranian Student News Agency (ISNA) on Tuesday that Iran will not convene a second round of talks until the maritime blockade issue is resolved. Nadri also denied media reports that Iran had sent a high-level delegation to Pakistan, stating, “There is no Iranian delegation in Pakistan.”

1 seconds ago

Bloomberg: Cryptocurrency Industry Political Action Committee Accumulates $180 Million War Chest for U.S. Midterm Elections

April 21 (Bloomberg) — Crypto-related political action committees (PACs) have amassed a war chest of roughly $180 million ahead of this year’s U.S. midterm elections, giving the sector spending power that outpaces even some top Republican super PACs. Most of the funds are rolled over from 2023, with the bulk concentrated in the Fairshake organization — primarily backed by firms including Coinbase Global Inc., Ripple Labs and venture capital giant Andreessen Horowitz. This level of funding underscores the crypto industry’s growing political clout in the U.S.

1 seconds ago

Coinbase to List Sign (SIGN)

According to official sources, Coinbase will list Sign (SIGN) for spot trading on April 21st.

1 seconds ago