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

QCP: The current state of the US economy is closer to late cycle than to a recessionary period. This week's data will determine Bitcoin's future trajectory.

On November 19th, QCP released its daily market observation. It stated that this week, Bitcoin continued to decline and once dropped below the crucial $90,000 level. The reason was that the market tightened its expectations for interest rate hikes, and the continuous ETF outflows suppressed market sentiment. Thin liquidity further magnified this round of declines, indicating that Bitcoin is becoming more and more sensitive to macroeconomic changes. This pullback took place against the backdrop of the rapid repricing of the expectations of the Federal Reserve - from a nearly certain December rate cut to roughly balanced probabilities. Assets sensitive to interest rates, such as Bitcoin, felt this pressure. Meanwhile, the stock market remained relatively stable due to strong corporate earnings reports, especially from hyperscalers reporting strong profits and record AI-driven capital expenditures. With the reopening of the US government, official data has been gradually released, provi

11 minutes ago

Pacifica has added a Settlement Map, and the next round of distributing 10 million tokens will be completed tomorrow.

On November 19th, as per Dune data, the Solana-based perpetual contract trading platform Pacifica has currently gathered a supply of approximately 133 million tokens. Tomorrow, it will fulfill the next round of the distribution of 10 million tokens. The current cumulative number of users stands at 30,266, with 10,436 weekly active users. The trading volume in the past 24 hours is approximately $717 million, and there are 222 users who have traded over $100,000. In addition, according to the official announcement, the platform has added a liquidation heatmap to the chart section. Currently, it supports the display of liquidations with holdings up to $100,000. Users can view the wallet address, transaction volume, and holding size at the corresponding price level on the chart. For more information on tokens, refer to the tutorial "Pacifica Trading T

11 minutes ago

On-chain BTC whale long positions suffered a complete rout, with the largest unrealized loss reaching 870%; the short positions all turned profitable, with the take-profit target set around below 89,000.

On November 19th, as per the monitoring and analysis by HyperInsight, among the 26 whales on Hyperliquid that hold BTC worth more than $20 million, there are 12 long positions and 14 short positions. All the long positions are currently experiencing different degrees of unrealized losses (approximately -14% to -870%), while all the short positions are seeing different degrees of unrealized gains (approximately 14% to 647%). Furthermore, based on incomplete statistics, the stop-loss/take-profit ranges for the above-mentioned whales are as follows (excluding outliers and over-collateralized addresses): Long Positions: - Stop-loss order range: $82,000–$89,000; Liquidation range: $74,100–$84,900, with an average of $79,300; Average entry price: $102,190 Short Positions: - Take-profit order range: $75,000–$89,000; Liquidation range: $98,000–$136,000, with an average of $116,000; Average entry price: $104,920 Additionally, according

11 minutes ago

Vanguard FIGRX Fund increased its holding of MetaPlanet stock by 3 million shares in Q3, valued at approximately $7.42 million.

On November 19th, Fidelity International Discovery Fund, which manages $500 billion, recently announced that it bought 3 million shares (approximately $7.42 million) of MetaPlanet (3350.T) stock during the third quarter.

11 minutes ago

Analysis: Bitcoin has dropped below the 0.75 Cost Basis Quantile, entering the "Bear Market" zone

On November 19th, glassnode conducted an on-chain analysis and stated that Bitcoin has fallen below the 0.75 Cost Basis Quantile. This level is historically regarded as a bear market zone. Throughout previous cycles, reclaiming and maintaining above this level has been of great significance for restoring a bullish market structure. Bulls are looking forward to seeing Bitcoin reclaim this level.

11 minutes ago

Binance Alpha has now launched GAIB (GAIB)

On November 19th, Binance Alpha has now initiated GAIB (GAIB), and its market value is currently at $59.7 million.

11 minutes ago

Hot feeds

A trader profits $448K by monitoring #Binance's new listings!