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A rug pull is when someone pulls whatever firm base you are standing on from underneath you, causing you to fall and crash.

Though the origins are literal, in crypto a rug pull (or simply ‘rug’) is normally an unexpected criminal act. Some examples:

  • Anon founders disappearing with the treasury of a project
  • A token that gets dumped to bits by insiders
  • A token that could be bought, but can’t be sold, leaving bagholders
  • NFT projects that never delivered what they promised during the presale.

Getting rugpulled is often a result of greed and can be a rite of passage in crypto, but it can also be very traumatic and cause life-changing losses. So, always DYOR before apeing in. If it looks to good to be true it likely is.

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