rug pulls
Sudden investment abandonments
A rug pull is a scam in which promoters of a cryptocurrency, NFT project, or other investment suddenly abandon it after attracting money, leaving investors with worthless assets.
The image is of pulling a rug out from under someone's feet: The token turned out to be a rug pull—the developers vanished with millions.
The term emerged from crypto culture but applies to any scheme where insiders cash out and disappear.
- scamDishonest money-making scheme
- swindleDeception for financial gain
- cryptocurrencyEncrypted decentralized money
- deceptionIntentional misleading of others
- betrayalBreaking of trust
too good to be true · fraud · pump and dump · scandal · Ponzi schemes · exploits · tokenomics · cons · blockchain · smart contracts · digital currency · honeypot · manipulations · theft · DeFi · insider trading · dump · airdrop
- tech scandalsCambridge Analytica, Theranos, data breaches, privacy violations, data breach
- blockchainblockchain, blocks, chains, hashes, hash
- MemecoinsDogecoin, Shiba Inu, Pepe, memecoin, meme coins