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

A long-dormant wallet that has been inactive for 3 years received 10,000 ETH and promptly sold all of it, acquiring 17.72 million USDC.

On June 4, monitoring from LookOnChain indicates that a dormant crypto wallet with the address 0x293a received 10,000 ETH one hour ago. The wallet sold the entire ETH holding at an average price of $1,772, resulting in 17.72 million USDC.

16 minutes ago

U.S. Stock Market's Three Major Indexes Fluctuate Higher, Google Surges Over 3%

On June 4, data from Bitget indicated that after a choppy trading session, the three major U.S. stock indexes finished higher on net. The Dow Jones Industrial Average advanced 1.7%, the S&P 500 turned positive to notch a 0.2% gain, while the Nasdaq Composite declined 0.2%. Among leading tech giants, Google’s shares surged more than 3%, and Meta, Oracle, and Amazon all posted gains of over 2%.

16 minutes ago

A whale long on HYPE suffered a $2.047 million loss, while their BTC short position is currently down over $680,000.

On June 4, monitoring from Onchain Lens reveals a whale incurred a $2.047 million loss while liquidating its long HYPE position, and established a short position of 682 BTC with 40x leverage. The short position is currently facing an unrealized loss exceeding $680,000.

16 minutes ago

Goldman Sachs: Stock Market Rally May Slow Down, But Still Advises Buying on Dips

June 4 — Goldman Sachs projects stock market returns will likely cool after a sharp rebound, though the firm is maintaining an overweight position in equities over the next 12 months and advising investors to "buy the dip". Goldman strategist Christian Mueller-Glissmann notes the market is trading near its historical high, driven primarily by tech sector earnings and AI-related investments. That said, emerging risks — including elevated bond yields, high energy prices and overheated investor sentiment — raise the likelihood of a near-term pullback. Even with volatility on the rise, Goldman argues the macroeconomic backdrop remains supportive, citing ongoing corporate profit growth and continued AI-driven capital spending.

16 minutes ago

Viewpoint: Cryptocurrencies such as AAVE, SOL are Undervalued, Next Opportunity may come from Assets Currently being "Overlooked" by the Market

On June 4th, Lorenzo Valente, ARK Invest’s Director of Digital Assets Research, pointed out that countless under-the-radar crypto protocols are flying under the radar in today’s market. Numerous projects have plummeted 70% to 90% from their all-time highs yet continue generating consistent fees, sustaining growth, and holding top positions in their niche sectors. Valente highlighted key examples: Aave sports a P/E ratio of roughly 9, Solana boasts a P/E of around 12 and $6 billion in free cash flow, Ethereum’s P/E sits at ~17, and Uniswap trades at an EBITDA multiple of approximately 8x. He also named projects including Avalanche, Pendle, Ethena, and Morpho, noting that had these assets been valued against 2021 VC standards, they would have been top picks for venture capital firms—yet the market is currently sleeping on them. Valente argues today’s market is fixated on chasing HYPE and NEAR (the go-to crypto trading narratives right now), but the next big winning trade could come fro

16 minutes ago

US Treasury Secretary Yellen: Iran Conflict "Paused"

June 4 – U.S. Treasury Secretary Yellen said the Iran conflict has been "paused," according to FX168.

16 minutes ago