A rug pull is a malpractice in the world of cryptocurrencies. Rug pull refers to a practice where a crypto project is unexpectedly abandoned by the creators or developers.
Moreover, rug pulls often leave investors high and dry without recourse. A rug pull can happen for a variety of reasons, including fraudulent practices, hacking, or market manipulation. Rug pulls are one way for creators or developers to initiate an exit strategy.
Rug pulls often occur in less regulated or decentralized crypto projects in order to avoid accountability and repercussions. Investors must exercise caution and do their own research before investing in crypto projects.