Report: Only 7 "Rug Pull" incidents have occurred in the crypto sector since 2025, losing nearly $6 billion

According to a recent report by blockchain analytics platform DappRadar, there were 21 "Rug Pull" events at the beginning of 2024, compared to only seven since 2025, which means their frequency has decreased year by year. But since the beginning of 2025, the Web3 ecosystem has lost nearly $6 billion to such events, with 92% attributed to the collapse of Mantra's OM token (which the token's founder denies as "Rug Pull"). By comparison, the total loss from "Rug Pull" events during the same period in 2024 was $90 million.
Sara Gherghelas, an analyst at DappRadar, pointed out that such incidents, although less frequent, are more destructive, and scams are becoming more complex, mostly planned by professional teams. Its nature is also evolving, with Quarter 1 in 2024 mostly originating in the DeFi protocol, NFT projects and Meme coins, while the same period in 2025 is mostly in the Meme coin field. Gherghelas also cautioned that the number of only active wallets has exploded for no reason, high transaction volume but low user activity, and projects with unverified smart contracts, limited GitHub activity, anonymous developer teams or sudden spikes in DApps can all be warning signs of "Rug Pull".