Rug pulls are a lucrative scam in which a crypto developer promotes a new project/token to investors, and then disappears with the money. The most epic one on record is OneCoin which rugged $4B the most recent/ noteworthy one in my opinion is Squid Game which rugged $3.36M which was on BSC. Without getting into semantics, there are typically three ways rug pulls are conducted: Liquidity Theft (liquidity pool just gets moved), Limiting Sell Order (developers can only sell) and Dumping (developers own from the start and then sell an enormous supply of tokens).
Although still taboo, it seems like investors are actually looking for scams these days. Not sure why anyone would want to get ripped off, but it seems like a thing. Imagine a Squid Game V3 motto: "we swear we wont rug this time" :) What are your thoughts on this?
Finally, what are the latest scams/rug pulls have you witnessed/heard of? Please feel free to provide links/educate the community!
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