When was the first ever rug pull?

Some may have fallen victim to a rug pull already in this sub. Rug pulls have become a normal thing in today’s crypto market. Recent reports have claimed that 97% of Uniswap tokens are rug pulls.

Throughout the years many rug pulls like OneCoin, Thodex, Neko Inc, Snow Dog and Squid Game have negatively affected crypto investors with the list going on.

OneCoin was able to accumulated around 4 billion between 2014-2016. Its founder Ruju Ignatova whereabouts are unknown since 2017 and it has landed her on Europol’s and the FBI’s most wanted lists.

Many have claimed that Luna was a rug pull but some debate it was due to bad design and technical failure. Luna even if it wasn’t a rug pull has caused it’s investors a lot of pain.

This has got me thinking when was the first ever rug pull?