The frequency of Crypto Assets rug pull events has decreased, but the loss per incident has increased.

According to the latest data from blockchain analysis platforms, the number of Crypto Assets rug pull scam cases has decreased by 66% year-on-year since the beginning of 2024, but the scale of losses caused by each incident shows a growing trend.

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According to the data, 21 independent rug pull incidents were recorded at the beginning of 2024, while only 7 have occurred so far in 2025. Despite the decrease in numbers, reports from blockchain analysis platforms indicate that the Web3 ecosystem has lost nearly $6 billion due to fraudulent activities since the beginning of 2025. Notably, the report attributes 92% of the losses to the price crash event of Mantra’s OM token, although the project’s founder firmly denies that this was a premeditated fraud.

In comparison, the total losses caused by rug pulls were approximately $90 million during the same period in early 2024.

A blockchain analyst stated: “This change indicates that the occurrence of rug pulls is decreasing, but when they do happen, the damage is much greater. These scams are becoming increasingly sophisticated, often meticulously designed by teams with polished branding and carefully crafted narratives.”

Memecoin has become a disaster area for rug pull events

The analyst further pointed out that the nature of rug pulls is evolving. In the first quarter of 2024, most rug pulls originated from DeFi protocols, NFT projects, and memecoins. In the same period in 2025, memecoins became the main target of rug pulls.

The Solana token Libra of the Libertad project (LIBRA) is one of the most notable cases recently. On February 14, after Argentine President Javier Milei posted relevant news on social media, the market value of the token soared to 4.56 billion USD. However, after the president deleted the post, the token price plummeted by over 94%, triggering market allegations of price manipulation.

“Fraud and exit scams remain a persistent threat in the Crypto Assets space, particularly in ecosystems that can quickly gain attention through hype but may vanish overnight with users’ funds,” said a blockchain analyst. “Despite increasing user awareness and the growing number of tools to detect suspicious behavior, rug pulls remain a recurring issue, especially in the DeFi and newly issued coin ecosystems.”

Identifying Warning Signs of a Rug Pull

Experts remind investors to pay attention to several warning signs that may indicate a project is a scam:

• The number of active wallets suddenly surged without apparent reason.
• The trading volume is unusually high, but user activity is relatively low.
• Unverified smart contract
• Limited GitHub Activity
• Anonymous development team
• DApp projects surged overnight

“As the industry matures, the methods used by criminals are becoming increasingly sophisticated. However, the preventive tools available to users are also becoming more powerful,” the analyst pointed out. “Although rug pull actions may never be completely eliminated, their impact can be greatly reduced when users have the right information.”

In the field of Crypto Assets investment, it has become increasingly important to stay vigilant, conduct thorough research, and use reliable analysis tools, especially when dealing with emerging projects and tokens.