October 25, 2022
5 minutes read
Rug pull is a term that everyone in the crypto sphere fears. It is one of several scams used in the crypto industry by bad actors to make a quick buck. Unlike hacks and other scams, rug pulls are almost always an inside job, with the developers (as a whole team or one or more members fooling the rest of the team) getting away with the investors’ hard-earned money and leaving it to them worthless tokens. According to research, more than $48 billion has been skimmed through over four hundred carpet trains to date. Because of this, many…
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