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

Iranian Foreign Ministry: Ready to respond to the mediator, will promptly inform if necessary

April 6 — The spokesperson for Iran’s Ministry of Foreign Affairs stated that Tehran is ready to respond to the mediator and will provide timely updates if necessary. (Xinhua)

1 minutes ago

South Korea to Strengthen CEX Asset Reconciliation Mechanism: Requires 5-Minute Reconciliation, Daily Disclosure, and Monthly Audit

On April 6, South Korea’s Financial Services Commission (FSC) has directed local centralized crypto exchanges (CEXs) to meet three key requirements: - Implement a system by the end of May to reconcile internal books with actual crypto asset holdings every five minutes; - Disclose daily balances verifying asset matches; - Undergo monthly external audits by accounting firms. This regulatory tightening follows a February incident where Bithumb, a major local exchange, mistakenly distributed 620,000 BTC to users, per Yonhap News.

1 minutes ago

Spot Gold Rises Above $4700/Ounce, US Stocks Up Sharply in Pre-market Trading

On April 6, Bitget market data shows spot gold has hit $4,700 per ounce, up 0.54% in intraday trading. U.S. stock futures are trading sharply higher in pre-market sessions: Nasdaq futures are up 1%, Dow futures have gained 0.32%, and S&P 500 futures are 0.6% higher.

1 minutes ago

Analyst Updates Bitcoin's Multiple Long-Term Bottom Indicators, Suggests Phased Buying from $63K

On April 6th, analyst Alicharts updated several Bitcoin long-term bottom indicators to identify potential Bitcoin bottom levels. Key support levels include: - ~$63,111 near URPD - A 10-year trendline support ranging roughly from $56k to $60k - The CVDD structural bottom at $47,960 - The MVRV 0.8 extreme pain zone at $43,647 Alicharts advised investors to diversify capital into the $36k-$63k range, rather than trying to pinpoint a single bottom. Right now, the market is largely in a wait-and-see or distribution phase—making it a good window to lay the groundwork for a macro rebound.

1 minutes ago

Whale "yeti.hl" bought 58,884 HYPE, average price $37.21

On April 6th, per Onchain Lens monitoring, crypto whale yeti.hl deposited 2.19 million USDC to HyperLiquid 30 minutes ago and purchased 58,884 HYPE tokens at $37.21 each.

1 minutes ago

Bloomberg Senior Analyst Drops Bombshell, Suggests Bitcoin Long-Term Equilibrium Price of $10,000

April 6th: Bloomberg Intelligence Senior Commodity Strategist Mike McGlone said Bitcoin could drop to around $10,000—its long-term equilibrium level—if it fails to hold above $75,000. McGlone noted $75,000 is a critical technical and psychological threshold: breaking above it would invalidate his bearish outlook, while failing to do so could extend Bitcoin’s downward trend. He added Bitcoin traded around $10,000 for years before 2020, and that level has been a key trading zone since Bitcoin futures launched in 2017. Additionally, potential stock market turmoil and reduced volatility could push Bitcoin to post its first consecutive annual decline by 2026, he said—“This may be a harbinger of future trends.” His comments drew criticism from Bitcoin supporters, who dismissed the predictions as unrealistic and questioned the accuracy of his past extreme calls. In 2018, McGlone forecast Bitcoin would fall to $1,100; its actual low that year was $3,000. Between 2023 and 2025, he repeate

1 minutes ago