What is a Rug Pull in Crypto?
A "Rug Pull" is a type of scam that commonly occurs in the cryptocurrency world, particularly within decentralized finance (DeFi) projects. It involves malicious actors, often the developers of a token or liquidity pool, who withdraw all funds from a project after gaining investors' trust, leaving them with worthless tokens. How does a Rug Pull work?Project Launch: A new crypto project or token is introduced, often promoted through social media or ads to attract investors.Investment: Investor...
What is a Rug Pull in Crypto?
A "Rug Pull" is a type of scam that commonly occurs in the cryptocurrency world, particularly within decentralized finance (DeFi) projects. It involves malicious actors, often the developers of a token or liquidity pool, who withdraw all funds from a project after gaining investors' trust, leaving them with worthless tokens. How does a Rug Pull work?Project Launch: A new crypto project or token is introduced, often promoted through social media or ads to attract investors.Investment: Investor...
