Rug pull
A scam where a project’s team abandons it and takes investors’ funds.
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What is a rug pull?
A rug pull is a scam in which the people behind a project suddenly withdraw funds and abandon it, leaving holders with worthless tokens. The name comes from pulling the rug out from under investors.
Warning signs
It is most common with new, unproven projects that build hype quickly. Warning signs can include anonymous teams, promises that seem too good to be true, and tokens that cannot easily be sold.