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

「pension-usdt.eth」 closed ETH 3x short position, realizing a profit of approximately $2.7 million

On January 30, OnchainLens monitoring shows the whale address "pension-usdt.eth" has fully closed its 3x leveraged ETH short position, realizing an approximate $2.7 million profit.

2 minutes ago

Whale Trader "pension-usdt.eth" Liquidates ETH Short, Profits $2.721 Million

On January 30, per HyperInsight monitoring, Binance whale address "pension-usdt.eth" closed a 25,000 ETH short position 8 hours ago, pocketing $2.721 million in profit.

2 minutes ago

Bitcoin Surges Above $82,000

On January 30, Bitcoin rebounded above $82,000, narrowing its 24-hour decline to 6.89%, according to HTX market data.

2 minutes ago

Backpack will airdrop 1% of the total supply to Mad Lads holders

On January 30, the official Chinese Backpack account posted: “TGE is approaching—24% to the community, 1% to Mad Lads.” The post hints at a 1% airdrop of the total supply to Mad Lads holders.

2 minutes ago

Crypto Custody Provider Copper in Talks for IPO with Goldman Sachs, Citi, and Deutsche Bank Involved

On January 30, cryptocurrency custodian Copper is engaged in preliminary discussions about a potential public listing. Sources familiar with the matter noted that Goldman Sachs, Citigroup, and Deutsche Bank may be involved in the listing process, with the final decision contingent on the company’s recent revenue performance. Copper reportedly provides institutional-grade crypto infrastructure built on Multi-Party Computation (MPC) technology, including custody, settlement, and prime brokerage services—designed to reduce counterparty risk for banks and trading firms.

2 minutes ago

「Whale」 Buddy Liquidates $1.584 Million Loss on ETH Long, Immediately Goes Long on ETH Again

As of January 30, per monitoring from HyperInsight (via https://t.me/HyperInsight), crypto whale "Big Brother Whale" (Huang Licheng) liquidated his ETH long position at a $1.584 million loss 1 hour ago—then immediately opened a new 25x-leveraged long position holding 700 ETH, with an average entry price of $2727.04. The position is currently slightly underwater.

2 minutes ago