What is a rug pull in crypto?
Crypto rug pulls are a type of scam that project developers can perform on their investors. Specifically, a rug pull happens when the developers or owners of a project run away with their investors' funds, and leave those same investors “holding the bag” of now-worthless project tokens.
There are multiple ways of how a rug pull can be performed. In this video, I will tell you about the most popular types of rug pulls, and also, how to spot a potential rug pull, in order to avoid falling for scams.
Are you a victim of a rug pull in crypto? Maybe you’ve narrowly avoided getting rugged? Share your experiences in the comments below!
Video Time Table:
0:00 Introduction to What is a Rug Pull in Crypto
1:01 What is a Crypto Rug Pull?
2:01 Rug Pull Examples: Developers Dumping Their Tokens
3:50 Rug Pull Examples: Draining Liquidity
5:20 Rug Pull Examples: Malicious Code
6:23 How to Spot a Rug Pull?
9:14 Wrap-up: What is a Rug Pull in Crypto?
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