That’s the thing, you don’t spot a rug pull, the rug pull spots you.
coinfeeds-bot on
tldr; A rug pull is a type of crypto scam where developers pump up the price of a token before disappearing with the funds, leaving investors with a worthless asset. There are three main types of rug pulls: liquidity stealing, limiting sell orders, and dumping. Rug pulls can be hard or soft, with hard pulls involving malicious code and liquidity stealing, and soft pulls referring to dumping assets. While rug pulls are unethical, they are not always illegal. Investors can protect themselves by researching the credibility of the project developers, checking for liquidity locks, verifying the percentage of the locked liquidity pool, testing for selling restrictions, being cautious of price swings, avoiding suspiciously high yields, and ensuring a formal code audit has been conducted. In 2021, approximately $7.7 billion was stolen from investors in rug pull scams. It is important for investors to do their due diligence before investing in new crypto projects.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Paparacisz on
Once you realise it’s a rug pull, it’s already too late.
hiorea on
Suspiciously high yield. 20% yield coin can down by 80%
Shilling kols. Beware of twitter mostly
middlemangv on
I remember when SQUID did a rugpull, and people were still buying that shitcoin days later…
GreedVault on
If the rug is pulled fast enough, the object won’t feel the pull because it stays in place. And there’s no way to spot it on the fly.
Hungry-Class9806 on
DEX Screener is a good tool to spot rugpulls because it shows you the liquidity, the amount of transactions and the % gains in short time periods.
If you ever see a token with more $ Volume than market cap and liquidity and a 50% growth in the past 24 hours, that’s almost certainly a rug
PontificatingDonut on
If I need to be able to spot one I don’t need to put money in.
Ok_Fig705 on
Can we stop talking bad about Solano they haven’t done it yet so it can’t be mentioned until the VC dump on you
10 Comments
That’s the thing, you don’t spot a rug pull, the rug pull spots you.
tldr; A rug pull is a type of crypto scam where developers pump up the price of a token before disappearing with the funds, leaving investors with a worthless asset. There are three main types of rug pulls: liquidity stealing, limiting sell orders, and dumping. Rug pulls can be hard or soft, with hard pulls involving malicious code and liquidity stealing, and soft pulls referring to dumping assets. While rug pulls are unethical, they are not always illegal. Investors can protect themselves by researching the credibility of the project developers, checking for liquidity locks, verifying the percentage of the locked liquidity pool, testing for selling restrictions, being cautious of price swings, avoiding suspiciously high yields, and ensuring a formal code audit has been conducted. In 2021, approximately $7.7 billion was stolen from investors in rug pull scams. It is important for investors to do their due diligence before investing in new crypto projects.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
Once you realise it’s a rug pull, it’s already too late.
Suspiciously high yield. 20% yield coin can down by 80%
Shilling kols. Beware of twitter mostly
I remember when SQUID did a rugpull, and people were still buying that shitcoin days later…
If the rug is pulled fast enough, the object won’t feel the pull because it stays in place. And there’s no way to spot it on the fly.
DEX Screener is a good tool to spot rugpulls because it shows you the liquidity, the amount of transactions and the % gains in short time periods.
If you ever see a token with more $ Volume than market cap and liquidity and a 50% growth in the past 24 hours, that’s almost certainly a rug
If I need to be able to spot one I don’t need to put money in.
Can we stop talking bad about Solano they haven’t done it yet so it can’t be mentioned until the VC dump on you
Anything not btc 🙂