Mostly, a type of crypto scam where developers raise funds from investors and then ditch the project they used to create the buzz.
Etymology:
- After the rug pull, the value of her crypto tokens went to zero, this due to the lack of regulation in the crypto space, misinformation, shilling, and the fear of missing out (FOMO).
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Submitted on April 27, 2022
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"rug pull." Phrases.com. STANDS4 LLC, 2024. Web. 21 Nov. 2024. <https://www.phrases.com/phrase/rug-pull_63143>.
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