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."

Add to Favorites Download image Share x Copy link

Relevant content

Solana-Based Meme Coin WOJAK Surpasses $40 Million Market Cap in a Short Time, Setting a New All-Time High

On November 26th, according to GMGN market data, the Meme coin WOJAK based on Solana briefly exceeded a market capitalization of $40 million today. Currently, it is at $38.07 million and has reached a new all-time high with a 24-hour gain of 90.83%. BlockBeats reminds users that Meme coins often lack practical use cases and experience significant price volatility. Therefore, investment should be made with caution.

11 minutes ago

Trader Increases Bet on Bank of England Interest Rate Cut, Expects a Cumulative 68 Basis Point Cut by the End of 2026

November 26th: The yield on the UK's two-year government bond decreased by 7.1 basis points to its lowest level since August 2024, reaching 3.693%.
Traders are enhancing their wagers on the extent of a rate cut by the Bank of England, anticipating a cumulative 68 basis point cut by the end of 2026. (Jin10)

11 minutes ago

Analyst: ETF Inflows Providing Buy-side Support for Bitcoin, Recent Sell-off Primarily from Short-term Holders

On November 26th, as reported by The Block, Timothy Misir, the director of BRN Research, stated that ETF inflows have offered the first significant buying support in the past few days, enabling Bitcoin to remain within the fragile accumulation range of $84,000 to $90,000. “Inflows have started to provide support, but they are not yet regarded as having a decisive impact,” Misir said. He pointed out that the on-chain pressure remains high, with approximately one-third of the Bitcoin supply still in a loss position. “Long-term holders and institutions are still selectively accumulating, while the recent selling pressure mainly comes from short-term holders.” In addition, Misir also mentioned that the macro signals remain complex—including the U.S. Producer Price Index (PPI) meeting expectations—keeping the Fed's policy path still uncertain. “Inflation data has not forced the Fed to accelerate rate cuts or maintain a hawkish stance. The market must price in the possibility of

11 minutes ago

「Whale」 Buddy Increases Long Position and HYPE on BTC, Long Position Rises to $21.24 Million

On November 26th, as per the monitoring of Hyperinsight, the address of "Big Brother Ma" Li-Cheng Huang has just increased his long position by 4 BTC (with 40 times leverage) and 1,000 HYPE (with 10 times leverage). The total position value of the long orders is 21.24 million US dollars, and the total unrealized gain is 207,500 US dollars.

11 minutes ago

CryptoQuant CEO: MSTR Appears to Be in an Oversold State

On November 26th, Ki Young Ju, the founder and CEO of CryptoQuant, posted on social media, saying, "It seems that Strategy (MSTR) is oversold in relation to the amount of Bitcoin it holds and historical premium levels."

11 minutes ago

Binance Wallet Finance Introduces BNB DeFi Carnival, Limited Time to Share $1 Million Equivalent Rewards

November 26th. According to an official announcement, Binance Wallet has initiated the BNB DeFi Carnival Wealth Management Event. The purpose of this event is to offer more yield opportunities to BNB on-chain token holders. During the event, by subscribing assets through Binance Wallet Wealth Management to Solv, Bouncebit, or Venus-related pools, participants can share a $1,000,000 equivalent Binance Wallet exclusive event reward. During the BNB DeFi Carnival event, Binance Wallet Wealth Management will launch activity pools in different phases and announce each phase's activities separately. Phase 1 Activity Period: From November 27, 2025, at 08:00 to January 11, 2026, at 07:59 (GMT+8). During this event, users who meet the activity requirements and subscribe to specified assets in the Binance Wallet Wealth Management activity pool will be eligible to receive rewards.

11 minutes ago

Hot feeds

A trader profits $448K by monitoring #Binance's new listings!

2024.12.13 17:37:29

A smart #AI coin trader made $17.6M on $GOAT, $ai16z, $Fartcoin,$arc.

2025.01.05 16:05:18