Wallets & SecurityBeginner

Rug pull

A scam where project controllers use their position to take value from users after attracting funds.

PLAIN-ENGLISH DEFINITION

In more detail

Rug pulls can involve draining controlled liquidity or abusing privileged contract functions. The common thread is controllers exploiting the trust placed in them. A falling token price or an unsuccessful project does not establish a rug by itself; what the controllers did and could control matters.

IN THE WILD

How you might use it

Project chat goes quiet, and the operator removes liquidity they alone controlled after promoting the sale; holders are left without normal trading access.

Rug pull: an anonymous controller withdraws a value-filled support tray from beneath fictional user pedestals.
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By Crypto Dictionary · Published · Updated

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