Rug Pulls Decline in Number, But Grow More Ruthless in 2025

The frequency of rug pulls in the crypto space has fallen sharply in 2025, but the damage they leave behind has grown far worse. According to a recent report by blockchain analytics firm DappRadar, there has been a 66% decrease in rug pull incidents compared to the same period last year.

Yet, these fewer scams have inflicted nearly $6 billion in damage so far—an alarming spike in scale and impact.

The Changing Face of Crypto Rug Pulls

DappRadar recorded just seven rug pulls since the beginning of 2025, down from 21 in early 2024. However, the eye-popping figure of $6 billion in losses tells a more troubling story. Much of that total—92%—is attributed to the dramatic collapse of Mantra’s OM token, though the project’s team denies any foul play.

“Rug pulls are becoming less common, but more catastrophic,” noted DappRadar analyst Sara Gherghelas. “These scams are no longer sloppy operations. They’re increasingly refined, fronted by professional branding and cleverly built narratives.”

Memecoins in the Latest Wave of Exit Scams

A closer look at the trends reveals memecoins as the new epicenter of rug pulls. In 2024, scams spanned DeFi projects, NFTs, and memecoins. But this year, it’s the memecoins that have become the primary vehicle for deception.

One standout example is the case of Libra, which skyrocketed to a $4.56 billion market cap on February 14 after Argentina’s President Javier Milei endorsed it on X. The endorsement, however, was short-lived. Once Milei deleted the post, the token crashed by over 94%, raising strong suspicions of a coordinated pump-and-dump.

“Projects can now explode overnight with just a viral post,” Gherghelas warned. “That speed makes due diligence more critical than ever.”

While blockchain transparency offers tools to spot red flags—like unverified contracts, anonymous teams, or sudden wallet activity—Gherghelas stressed that awareness is still the most powerful shield.

“As the industry evolves, so do the tactics of bad actors,” she said. “We may never eliminate rug pulls entirely, but we can blunt their impact through education and vigilance.”