Report: Only 7 "Rug Pull" incidents have occurred in the crypto space since 2025, and the Web3 ecosystem has lost nearly $6 billion

according to the latest report from the blockchain analysis platform DappRadar, there were 21 "Rug Pull" incidents in early 2024, while only 7 incidents have occurred from 2025 to date, indicating a decreasing frequency year by year. However, since early 2025, the Web3 ecosystem has lost nearly $6 billion due to such incidents, with 92% attributed to the collapse of Mantra's OM token (the token's founder denies this being a "Rug Pull"). In comparison, the total losses from "Rug Pull" incidents in the same period of 2024 were $90 million. DappRadar analyst Sara Gherghelas pointed out that although the frequency of such incidents has decreased, their destructiveness has increased, with scams becoming more complex and often planned by professional teams. The nature of these incidents is also evolving, with many incidents in the first quarter of 2024 originating from DeFi protocols, NFT projects, and meme coins, while in the same period of 2025, they mostly occurred in the meme coin sector. Gherghelas also warned that a sudden increase in the number of active wallets for no apparent reason, high trading volume but low user activity, unverified smart contracts, limited GitHub activity, anonymous developer teams, or projects where DApps suddenly surge could all be warning signs of a "Rug Pull".