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

Whale's「Set 10 Big Goals First」 Close Bitcoin Short for Over $9.46 Million Profit, Then Switch to Long

On June 19, a crypto derivatives whale nicknamed "First Set 10 Big Goals" revealed on social media that they closed out a short position of 3,173.608 BTC, earning a profit of over $9.46 million. Shortly after, the whale went long, opening a long position of 999.121 BTC at a price of $62,682.17 per BTC.

5 minutes ago

"The 'BTC OG Insider Whale' has closed positions for ZEC and UNI longs, but still holds a $80 million BTC long position"

June 19 – On-chain analyst Wu Jinyu’s monitoring indicates the mysterious “BTC OG Insider Whale” has closed out its long positions in ZEC and UNI, while still holding the vast majority of its trading exposure in Bitcoin longs that carry substantial unrealized losses. The whale offloaded a 50,000 ZEC long position worth approximately $22.38 million, locking in a profit of around $420,000. It also closed a 580,000 UNI long – which had been opened the day prior at a higher entry price – valued at roughly $1.76 million, resulting in a loss of about $310,000. Notably, the whale’s 1,270 Bitcoin long position, opened in May at an average price of $76,117, remains open. The current value of this BTC holding sits at around $80 million, putting it $16.65 million underwater on paper.

5 minutes ago

Elon Musk Responds to Don Jie: "It won't take long for China's large-scale model to reach Fable Level"; If measured by practicality, even achieving this by Q1 next year would be impressive

On June 19, Elon Musk commented on X regarding a discussion over when Chinese large-scale AI models could reach the performance of Anthropic’s Fable-level models, noting, “Possibly in Q1 2027.” Tang Jie, founder of Zhike AI, replied to Musk shortly after, arguing it would not take that long. Musk responded, “That holds for benchmark tests, but when measured by real-world usability, even a Q1 timeframe would be very impressive.” Musk also added that Anthropic is correctly focused on maximizing practical intelligence—a trait not reflected in benchmark scores but one that will definitely impact revenue.

5 minutes ago

The US and Chinese stock markets are closed today, while trading in the gold, silver, and oil markets has ended early.

On June 19th, the Dragon Boat Festival overlapped with the June Solstice, leading to closures across both Chinese and U.S. financial markets. A-shares, H-shares, Taiwan-listed stocks, and U.S. equities all took a one-day trading break. China’s domestic futures exchanges remained fully closed for the entire day. Trading for futures contracts spanning precious metals, energy, forex, stock indices, and U.S. Treasuries under CME Group concluded early on June 20th at 01:00 Beijing Time. Brent crude oil futures trading on the Intercontinental Exchange (ICE) wrapped up ahead of schedule at 01:30 Beijing Time that same day. (Jin10)

5 minutes ago

Two addresses suspected to belong to the same whale sold 11,888 ETH, equivalent to approximately $20.28 million.

June 19 – Two addresses suspected to belong to the same crypto whale sold 11,888 ETH at an average price of $1,706, generating total proceeds of approximately $20.28 million, according to monitoring by on-chain analytics platform Onchain Lens.

5 minutes ago

Japanese and South Korean Stock Indices Open Higher, with South Korea's KOSPI Index Up 2.55%

According to data from Bitget, the Nikkei 225 Index opened 372.55 points higher on June 19th, marking a 0.52% gain to reach 71,426.04 points. South Korea’s KOSPI Index opened 231.44 points higher that same day, a 2.55% rise, climbing to 9,295.28 points—with Samsung Electronics’ stock price up by 3%.

5 minutes ago