According to ChainCatcher, citing Cointelegraph, based on the latest report from blockchain analysis platform DappRadar, 21 "Rug Pull" events occurred in early 2024, while only 7 have happened from 2025 to date, indicating a yearly decline in frequency. However, since early 2025, the Web3 ecosystem has lost nearly $6 billion due to such events, with 92% attributed to the Mantra OM token collapse (the token's founder denies this as a "Rug Pull"). In comparison, the total losses from "Rug Pull" events during the same period in 2024 were $90 million.
DappRadar analyst Sara Gherghelas noted that while these events have decreased in frequency, they have become more destructive, with scams becoming increasingly complex and often planned by professional teams. Their nature is also evolving, with most originating from DeFi protocols, Non-Fungible Token projects, and MEME coins in the first quarter of 2024, while in the same period of 2025, they primarily occurred in the MEME coin domain. Gherghelas also warned that sudden increases in active wallet numbers, high transaction volumes with low user activity, unverified smart contracts, limited GitHub activity, anonymous development teams, or sudden DApp spikes could be warning signs of a "Rug Pull".
