Tag: Beyond Memes: Unmasking

A rug pull. The phrase itself evokes an image of betrayal, a sudden and devastating loss of support that sends you sprawling. In the world of cryptocurrency and decentralized finance (DeFi), this isn't just a metaphor; it's a very real and increasingly common scam where developers abandon a project, taking investors' money with them. Understanding what a rug pull is, how it works, and how to protect yourself is crucial for anyone venturing into the digital asset space. What is a Rug Pull? A rug pull, in the context of cryptocurrency, is a malicious maneuver where a development team abandons a project and absconds with investors' funds. It's a type of exit scam, often occurring in the DeFi space, particularly on decentralized exchanges (DEXs). The term comes from the analogy of someone pull...