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

Analysis: 42.6% of Bitcoin's hash rate is concentrated in the United States, and the controversy over mining pool control continues to escalate

June 14. While Bitcoin’s network design centers on decentralization and censorship resistance, experts are now revisiting these core tenets—given that roughly 42.5% of global hashrate is currently concentrated in the United States. Data shows U.S.-listed public mining companies control about 31.5% of global hashrate, with broader estimates pointing to even higher total influence. Leading mining pool Foundry USA has long held the largest global hashrate share, at one point nearing one-third of the total network capacity on its own. Analysts argue the real risk isn’t just geographic centralization—it’s concentration at the pool level. Pools dictate which transactions are included and how block templates are structured, and the top mining pools combined now hold over two-thirds of global hashrate, fueling concerns over widespread transaction censorship. Following global mining bans in 2021, the Bitcoin network proved highly adaptable: after a sharp short-term drop in global hashrate, i

19 minutes ago

The Israeli Security Cabinet will convene on Sunday to discuss the agreement reached between the United States and Iran.

June 14 — Per market sources, Israel’s Security Cabinet will hold a meeting Sunday to discuss the agreement between the U.S. and Iran. (FXStreet)

19 minutes ago

RIF Surges Over 45% in 24 Hours, Market Cap Rises to $111 Million

As of June 14, HTX market data shows that RIF has surged over 45% in the past 24 hours, currently trading at $0.1137 with a market cap of $111 million. The digital asset has also seen a 73.52% increase over the last seven days and a massive 211.14% gain over the past 90 days.

19 minutes ago

The Indian cryptocurrency tax audit has revealed around $930 million in unreported income, with a comprehensive strengthening of per-transaction reporting and cross-platform verification set for the 2026 tax season.

June 14 Update: India’s tightened tax enforcement means cryptocurrency investors will face stricter reporting and compliance rules for the 2026 tax filing season. Misreporting could trigger fines and audits. Under current regulations, crypto gains are subject to a flat 30% capital gains tax, plus a 1% Tax Deducted at Source (TDS) on transactions above a set threshold, with no cross-asset loss offsetting allowed. The 2025 Income Tax Act took effect on April 1, 2026, and its core tax framework remains largely unchanged. On the reporting front: Investors must fill out a dedicated Schedule VDA section in ITR-2 or ITR-3 forms, and provide detailed records for every transaction—including trades, exchanges, transfers, and settlements—instead of just summarizing total gains. Regulatory focus has ramped up sharply: Indian tax authorities will directly pull user-level transaction data from exchanges, custodians, and wallet providers, then automatically cross-check this data against filed decl

19 minutes ago

Goldman Sachs and Morgan Stanley are expected to each receive approximately $100 million in underwriting fees from the SpaceX IPO.

On June 14, a Wall Street Journal (WSJ) report — citing a regulatory filing and sources familiar with the deal — notes that SpaceX’s upcoming initial public offering (IPO) will carry total underwriting fees of approximately $500 million, equal to about 0.7% of its $75 billion fundraising target. Lead underwriters Goldman Sachs and Morgan Stanley will take the largest share of these fees: together, they will claim 40% of the total payout, or roughly $100 million each. Bank of America, Citigroup, and JPMorgan are each expected to receive around $75 million, while several other participating banks will take in $10 million or less apiece.

19 minutes ago

TAO surges over 28% in 24 hours, reaching a market capitalization of $30.5 billion.

June 14, HTX market data shows TAO has surged more than 28% in the past 24 hours, currently trading at $275.4 with a market cap of $30.5 billion. In related news, the U.S. Department of Commerce recently imposed export controls on Anthropic’s latest model.

19 minutes ago