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

Kimi Official Retweet of Binance Founder CZ's Praise Tweet

On March 10, Kimi officially retweeted a praise post from Binance founder CZ. Today, CZ noted: “I’ve tested many AI models using OpenClaw and found Kimi AI’s token to be the most efficient, with strong encoding performance and the simplest setup.”

1 seconds ago

US Stock Pre-market Crypto Stocks Soar, Strategy Up 2.79%

On March 10, pre-market U.S. crypto-related stocks posted broad gains, per Bitget market data. Key pre-market moves for notable names: - MicroStrategy (MSTR): +2.79% - Coinbase (COIN): +3.11% - Circle (CRCL): +1.66% - MARA Holdings (MARA): +1.85% - Riot Blockchain (RIOT): +2.11% - Bit Digital Immersion (BMNR): +1.16% - StrongNode (SNODE): +1.57% - SharpLink Gaming (SBET): +1.97% This aligns with U.S. financial news conventions: concise, uses "+" for gains, clear bullet points, and prioritizes key context (date, data source, core trend) upfront.

1 seconds ago

On-chain Silver Soars 5.2% Intraday, ‘Silver Whale’ Long Unwinding Nets $470K Profit

On March 10th, HyperInsight monitoring shows silver prices on Hyperliquid have jumped 5.2% in the past 24 hours, currently trading at $88.17. The largest silver long whale (address 0x63c)—who chased highs on February 28th and averaged down over a week—finally turned a loss into a profit today. It holds a floating profit of $470,000 (13.5%) with daily gains of roughly $500,000. Currently, the whale maintains a 3x leveraged silver long position valued at $8.3 million, with an average entry price of $83.16, making it the top on-chain silver long holder. Additionally, the address also holds a 3x leveraged gold long position worth $3 million, with an average entry of $5,093.

1 seconds ago

BlackRock deposits 1,133.78 BTC and 27,189 ETH to Coinbase

On March 10, OnchainLens data shows BlackRock transferred 1,133.78 BTC (valued at $80.24 million) and 27,189 ETH (valued at $56.10 million) to Coinbase.

1 seconds ago

Two Associated Addresses Coordinate Bullish Sentiment in Korean Market, EWY Long Positions Reach a Total of $3.7 Million

On March 10, per Hyperinsight monitoring (via its Telegram channel), the iShares South Korea ETF (EWY) jumped 5.6% this morning to a temporary high of $133.89.

During after-hours trading, EWY contract prices on Hyperliquid saw sharp volatility, hitting a low of $128 and now trading at $133.

Two addresses linked to active trading (0x42e, 0xb58) simultaneously opened low-leverage long positions on EWY during this period. As of press time, their combined position totals $3.7 million, with an average entry price of $133.97. They currently hold a slight unrealized loss of ~$30,000, or 2%.

1 seconds ago

「Lobster」 Market Cap Hits $22.75 Million All-Time High, Top Trader Yet to Reduce Position

March 10 — Per GMGN monitoring (link: https://gmgn.ai/bsc/token/i_m4TE56o8_0xeccbb861c0dda7efd964010085488b69317e4444), the BSC-based Chinese meme coin "Lobster" has listed on Binance Alpha, quickly hitting an all-time high (ATH) market capitalization of $22.75 million. It has since retraced to $19 million, with a 24-hour price surge of 129.2% and 24-hour trading volume of $13.6 million. The top holder (address: 0x53d...) entered at an average price of $0.0026, holding an unrealized gain of $388,000 (184%) and a current position value of $490,000. This address partially sold off three days ago but resumed buying after the market cap exceeded $10 million today, with no ongoing sell activity. BlockBeats notes that meme coins often lack practical use cases and carry extreme price volatility — investors should exercise caution.

1 seconds 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

When Elon Musk tweeted about Moltbook, the meme coin MOLT experienced a short-term 30% price surge, hitting a new all-time high of $114 million.

2026.01.31 18:37:29

Last week, funds have flowed into #Bitcoin, #Ethereum, and #Hyperliquid.