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Report: Since 2025, there have been only 7 "Rug Pull" incidents in the encryption field, resulting in losses of nearly US$6 billion

According to online reports, according to the latest report of blockchain analysis platform DappRadar, there were 21 "Rug Pull" incidents in early 2024, but only 7 incidents have occurred since 2025, which means that the frequency of occurrence has decreased year by year. But since the beginning of 2025, the Web3 ecosystem has lost nearly $6 billion due to such incidents, 92% of which has been attributed to the collapse of Mantra's OM token (the token's founder denies it is a "Rug Pull"). In comparison, the total loss from the "Rug Pull" incident in the same period in 2024 was US$90 million. Sara Gherghelas, an analyst at DappRadar, pointed out that although such incidents are less frequent, they are more destructive, scams become more complex, and 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 coin field. Gerguiras also warned that the only projects with an unexplained surge in the number of active wallets, high transaction volume but low user activity, unverified smart contracts, limited GitHub activity, anonymous developer teams, or sudden surge in DApps may be a warning sign for "Rug Pull".

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