Rug Pull is a popular scam tactic in the space of decentralized finance (DeFi) projects on blockchain. This term comes from the phrase “pull the rug out from under (someone)”, meaning “over the drawbridge” — a symbol of suddenness and loss. Rug Pull occurs when developers or development teams withdraw all investment from a project, […]
Rug pull scams are a type of online fraud that targets investors in decentralized finance (DeFi) projects or non-fungible tokens (NFTs). The scammers claim to have a legitimate project that offers high returns or unique features, but they secretly plan to abandon the project and take the investors’ money. Rug pull scams are named after […]