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

VanEck has submitted an S-1 update for its BNB spot ETF, with the ticker symbol set as VBNB.

On November 25th, according to the information on the SEC website, Vaneck submitted an updated S-1 filing for its BNB spot ETF on November 21st. The trading code of the ETF is set as VBNB. It is important to note that submitting an updated S-1 filing (usually marked as S-1/A, that is, S-1 Amendment) is a very significant positive signal in the ETF approval process. The issuer will only submit an S-1/A to respond to and make amendments after receiving the SEC's formal comment letter.

13 minutes ago

「Ultimate Shorter」 closed out a profitable BTC short position for the first time this month, with the current position size at approximately $103 million.

On November 25th, based on the data from Coinbob Popular Address Monitor, in the past 1 hour, the "Ultimate Bear" whale (0x5D2) has been constantly closing out its profit-taking BTC short positions. Approximately $4.3 million has already been closed, realizing a profit of $1.17 million and still holding an unrealized profit of $28.15 million. Additionally, its current position size is around $103 million, with an average price of $111,500 and a liquidation price of $94,800. Currently, it is ranked as the TOP 1 in BTC short positions on Hyperliquid. According to monitoring, this address has continuously withdrawn about $34.09 million in account margin this month and transferred a total of $40 million to the Binance wallet. There was a slight deposit of $3 million today to increase the average price.

13 minutes ago

Shanghai Blockchain Innovation Fund Launch

November 25th. As per the Science and Technology Innovation Board Daily, during the 2025 Global Digital Commerce Conference, the Shanghai-New York Cooperation presented the achievements of the mutual recognition of digital identity and electronic authentication documents. It launched the Mineral Data Internationalization Standard Innovation Consortium, unveiled the Shanghai Blockchain Innovation Fund, and initiated the blockchain letter of credit application scenario. Meanwhile, Shanghai Data Group and the National Data Development Research Institute jointly compiled and released the "White Paper on the Construction and Operation of Industry Trusted Data Space Based on Unified Data Infrastructure."

13 minutes ago

Binance Alpha: Irys (IRYS) Airdrop Threshold is 241 Points

On November 25th, as per an official announcement, Binance Alpha will commence trading for Irys (IRYS) on November 25, 2025, at 11:00 (UTC). Users who possess at least 241 Alpha Points will be eligible to receive an airdrop of 1200 IRYS tokens on a first-come, first-served basis. In the event that the reward pool is not completely distributed, the points threshold will automatically decrease by 5 points every 5 minutes.

13 minutes ago

James Wynn predicted that Bitcoin will fall to $67,000 this week, having previously forecasted on the 10th that "Bitcoin will drop to $92,000."

On November 25th, James Wynn once more made a bearish forecast on the X platform, indicating that Bitcoin might decline to $67,000 this week. It is important to note that on November 10th, James Wynn sent a message to the community, expressing his view that Bitcoin would fall back to the range of $67,000 to $92,000, with the Bitcoin price at that time being $105,600.

13 minutes ago

KiloEx Introduces the "Unified 90% Liquidation Line" Mechanism, Providing the Industry's Latest Point of Liquidation for High-Leverage Trading

November 25th: In the recent event where the violent fluctuations of Bitcoin led to the liquidation of nearly 120,000 people, KiloEx noticed a counterintuitive phenomenon. Over 70% of the liquidations originated from long positions, and most were not due to the end of a trend but were liquidated because of a short-term "price spike." This exposed the core contradiction of high-leverage trading: the true source of risk is often not a wrong directional bet but a risk management model that does not leave sufficient buffer space for market noise. In this context, the decentralized derivatives trading platform KiloEx officially launched its core risk management mechanism, the "Unified 90% Liquidation Line." This mechanism broke industry conventions by not adjusting the liquidation point earlier as leverage increased. Instead, it provided a fixed 90% loss threshold for all positions. In comparison, under 100x leverage, KiloEx users had a -90% liquidation buffer, which was significantly high