BE CAREFUL: Over $15 Billion Has Been Lost Due To Crypto Rug Pull
According to statistics, at least 7 out of every 10 crypto investors have been rugpulled before, and these days rug pulling is becoming rampant in the crypto space.
What's Rugpull?
Rugpull refers to a deceptive and fraudulent practise where the creators or developers of a cryptocurrency project abruptly abandon the project after attracting a significant amount of investment from users. In a rugpull, the creators take off with the funds raised, leaving investors with worthless or near-worthless tokens and stranded.
Some of the biggest rug pulls:
1. $4 billion in OneCoin by the self-acclaimed crypto queen
2. $2 billion in Bitconnect
3. $300 million in Squidgame token last year
4. Over $50 million in Bald tokens recently.
Be safe, mate.
