FIVE WORST CRYPTO RUG PULLS IN HISTORY.
1. Titcoin - In 2014, the developers of Titcoin, a cryptocurrency targeting the adult industry, abruptly vanished along with millions of dollars worth of investor funds. The project was marketed as a "disruptive" payment solution for the adult entertainment industry, but it turned out to be a rug pull scam.
2. Confido - In 2017, the team behind Confido, a cryptocurrency that claimed to revolutionize the logistics industry, suddenly abandoned their website and social media accounts and made off with $375,000 worth of investor funds. The project was marketed as a smart contract-based platform for supply chain management but was later revealed to be a scam.
3. Bitconnect - Bitconnect, a lending platform that promised daily returns on investment, was exposed as a Ponzi scheme in 2018. The project claimed to have a trading bot that would generate profits for investors, but in reality, the platform relied on new investor funds to pay off existing investors. When the scheme collapsed, investors lost over $2.5 billion.
4. HEX - HEX, marketed as the "next Bitcoin," was founded by controversial figure Richard Heart. It promised high returns for investors who held the cryptocurrency and staked it on the platform. However, in 2020, it was revealed that Heart had created the project as a scam and had control of the majority of the circulating supply. The collapse of HEX resulted in losses of over $16 billion.
5. Plustoken - Plustoken was a Chinese cryptocurrency that marketed itself as a high-yield investment platform. It promised daily returns on investment through a mobile app and attracted millions of investors, mostly from Asia. However, in 2019, the project suddenly shut down, and its founders disappeared with over $3 billion worth of investor funds. It is considered one of the largest cryptocurrency exit scams in history.