Cryptocurrency offers exciting opportunities but also risks, including “rug pulls,” where developers vanish with investors’ funds. This article explores the top ten crypto rug pulls, detailing their execution, impact, and lessons learned. From OneCoin to Thodex, these cases underscore the need for vigilance and due diligence in the evolving crypto world.
Top 10 Crypto Rugpulls
#1
OneCoin
This Ponzi scheme, led by Ruja Ignatova, defrauded investors of over $4 billion. It was marketed as a cryptocurrency but operated more like a multi-level marketing scheme, eventually leading to Ignatova's disappearance in 2017
#2
Thodex
This Turkish exchange was involved in a rug pull that cost investors approximately $2 billion. The platform abruptly ceased operations, leaving users unable to access their funds
#3
AnubisDAO
This project raised around $60 million before its creators vanished with the funds shortly after launch, marking it as one of the more significant scams in the DeFi space
#4
Uranium Finance
This project suffered a rug pull that resulted in losses exceeding $50 million, as the developers withdrew liquidity from the platform
#5
Defi100
https://youtu.be/G-Ch4jUv-dg?si=HZ01GRZvLpJWO2LI This project claimed to have lost $32 million in a rug pull, with its website displaying a message suggesting the developers had run off with the funds
#6
Luna Yield
Luna Yield, a Solana-based platform, disappeared in August 2021, deleting its website and social media accounts, and withdrew $10 million. Investors attempted to withdraw their funds but were unable to do so as all social accounts and the website were deleted.
#7
Arbix Finance
This platform was labeled a rug pull after losing $10 million in deposits, with its creators shutting down their online presence shortly after.
#8
Snowdog
A meme token that initially gained traction but ended up costing investors around $10 million when the developers executed a rug pull
#9
TurtleDEX
This decentralized exchange raised $2.4 million in a presale but was shut down shortly after, with funds drained from its liquidity pool.
#10
