According to Cointelegraph, according to the latest report of blockchain analytics platform DappRadar, there were 21 "Rug Pull" incidents in early 2024, while there have been only 7 cases since 2025, which means that the frequency of occurrence has been declining year by year. But since the beginning of 2025, the Web3 ecosystem has lost nearly $6 billion as a result of events like this, with 92% of which is attributed to the collapse of Mantra’s OM tokens (the founder of the token denies it as “Rug Pull”). By comparison, the total loss of the “Rug Pull” incident in the same period in 2024 was $90 million. DappRadar analyst Sara Gherghelas pointed out that although such incidents are less frequent, they are more destructive, and the scams are becoming more complex, and they are mostly planned by professional teams. Its nature is also evolving. In the first quarter of 2024, it mostly originated from the DeFi protocol, NFT projects and Meme coins, while in the same period in 2025, it mostly occurred in the Meme coins field. Gergalas also reminded that the only projects with no reason to surge in active wallets, high transaction volume but low user activity, as well as unverified smart contracts, limited GitHub activity, anonymity of the developer team or sudden surge in DApps can all be warning signs of "Rug Pull".
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