Crypto rug pulls have slowed, but are now more devastating: DappRadar

DappRadar analyst Sara Gherghelas says most rug pulls in 2025 so far have been tied to memecoins, while in 2024 the main culprits were DeFi protocols and NFT projects.

There has been a 66% year-on-year decrease in the number of crypto rug pulls this year compared to 2024, but recent data shows the size of each rug pull has been increasing.

Rug pulls have dropped in frequency year-over-year, with early 2024 recording 21 separate incidents, compared to only seven so far in 2025, according to an April 16 report from blockchain analytics platform DappRadar.

However, since the beginning of 2025, the Web3 ecosystem has lost nearly $6 billion to rug pulls, according to DappRadar’s report. However, the report attributes 92% of that to Mantra’s OM token collapse, which the founders have strongly denied was a rug pull.

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