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

Insider Reveals xAI and SpaceX Details: Exchange Rate is 0.1433

February 3 — Sources familiar with the matter disclosed details about xAI and SpaceX, confirming the share exchange ratio between xAI and SpaceX has been set at 0.1433. Some xAI executives may opt to take cash at $75.46 per share in lieu of SpaceX stock.

2 minutes ago

The U.S. Senate Passes Government Shutdown Compromise, House Faces Key 'Rules Vote' Test

**February 3** — The U.S. Senate cleared a key procedural hurdle Monday night for a compromise to end the ongoing partial government shutdown, setting the stage for the legislation to face a House vote Tuesday. However, the bill could hit a second procedural roadblock: a House floor “rule vote,” which requires a simple majority to open debate and advance to a final vote. House votes are typically sharply partisan, meaning Speaker Johnson will need near-unanimous support from Republican members for the measure to pass. The partial shutdown—affecting roughly 78% of federal government operations—entered its third day after Congress failed to send remaining spending bills to former President Trump by January 30. The House had previously passed an initial bipartisan bill to fund the government through the end of fiscal year 2026 (September 30), but Democrats unanimously opposed the plan in protest of Trump’s immigration crackdown in Minneapolis. (Golden Finance)

2 minutes ago

Binance Withdrawals Resumed

On Feb. 3, Binance announced it had identified and resolved its withdrawal issue.

2 minutes ago

Analysis: Vitalik's ETH Sale Today May Be Part of "Donation Plan," Totaling 16,384 ETH

On-chain data shows Vitalik Buterin sold 493 ETH on February 3, valued at roughly $1.16 million. Four days earlier, he transferred 16,384 ETH from a personal wallet to a multi-sig wallet, with sales kicking off today. This move aligns with his January 30 announcement of a "multi-year donation plan." Per his statement, the initiative aims to support building a full-stack open-source system—one that is secure and verifiable across both software and hardware.

2 minutes ago

The "On-chain Shareholder" liquidated their NASDAQ short position and went long on gold, while also investing $59 million to buy the dip in the crypto market

February 3rd — Per the Coinbob Popular Address Monitor, the largest on-chain gold short whale (alias "On-chain Stockholder," address 0xfc66...) has amassed an $80 million short position across commodities, with weekly profits hitting $9.4 million. In recent days, the address has closed positions to lock in profits: it drastically cut its on-chain U.S. stock shorts (primarily tracking the XYZ100 Nasdaq 100 Index) from ~$19.6 million to under $300k, then redirected those funds to precious metals shorts, pushing total short exposure to $47 million. Its top short is PAXG (on-chain gold) at $24.9 million. The account’s overall holdings have jumped to $115 million, with key shifts: - ~$57 million in remaining commodity shorts - ~$59 million in crypto long positions (aggressively buying the dip on XRP, SOL, ETH) - Sharply reduced chain-linked stock positions Compared to last Friday, its main commodity positions are: - 5x PAXG: $12M → $24.9M; avg price $5,250 → $4,991; ~$980k

2 minutes ago

South Korean fintech company Hecto joins the Circle payment network

On February 3, South Korean fintech firm Hecto joined the Circle Payment Network (CPN). The partnership aims to provide enterprises with compliant cross-border stablecoin-powered fiat payment solutions, enabling efficient fund transfers from South Korea to international markets.

2 minutes ago