Scams and rug pulls for hundreds of millions

In 2024, a staggering $473M in crypto has vanished due to rug pulls and scams across 108 incidents, as per Immunefi! 💸 In May alone, $52M was lost, with Gala Games and SonneFinance being hit hardest, losing $21M and $20M respectively. Despite this, it’s a 12% drop from May 2023. 📉

DeFi continues to be the Wild West for these schemes, while centralized platforms had a clean slate this year! 🏦 Last year, over $2B was drained through similar tactics, with notorious groups like Lazarus responsible for $3B in losses over six years.

$ETH was the main stage, suffering 43% of the losses, followed by $BNB Chain with 19%. 🪙💔 Stay alert, folks—don't let your crypto dreams turn into nightmares! 🚀💪

$SOL rugs on the other hand, happen literally every minute, but the volume are much smaller compared to ETH or BNB. And as a matter of fact, no one has really calculated the rug pulls size on SOL. We are probably talking about hundreds of millions if not billions lost due to scams.

Trade safely.