What Is a Rug Pull? [ Rug Pull Explained with Animations ]
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- Опубликовано: 23 мар 2022
- What is a Rug Pull?
A rug pull is a malicious maneuver in the cryptocurrency industry where crypto developers abandon a project and run away with investors’ funds. Rug pulls usually happen in the decentralized finance (DeFi) ecosystem, especially on decentralized exchanges (DEXs), where malicious individuals create a token and list it on a DEX, then pair it with a leading cryptocurrency like Ethereum.
Once a significant amount of unsuspecting investors swap their ETH for the listed token, the creators then withdraw everything from the liquidity pool, driving the coin's price to zero. The coin’s creators may even create a temporary hype around Telegram, Twitter, and other social media platforms and initially inject a substantial amount of liquidity into their pool to cultivate investor confidence.
Rug pulls thrive on DEXs because these types of exchanges allow users to list tokens for free and without audit, unlike in centralized cryptocurrency exchanges. Furthermore, creating tokens on open source blockchain protocols like Ethereum is easy and free. Malicious actors use these two factors to their advantage.
Note that decentralized exchanges such as Uniswap algorithmically determine the prices of tokens in a pool depending on the available balances. To ensure you don’t fall victim to a rug pull, check the liquidity in a pool. However, this is only the first step. You must also check if there is a lock on the token’s pool. Most reputable projects lock pooled liquidity for a certain period.
Another major characteristic of a possible rug pull is a coin skyrocketing in price within hours. For example, a rug pull coin can move from 0 to 50X within 24 hours. This trick is meant to drive FOMO that leads more people to invest in the token.
In order for a project to be deemed "unruggable," it means that there aren't a significant amount of tokens help by the development team. Without the signature large amount of team-held tokens that could be taken in a rug pull or exit scam, a project could be considered unruggable.
Another way to think about an unruggable project is if the team renounces ownership of any tokens, like tokens they would have acquired during a presale.
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Развлечения
![Proof of Work vs Proof Stake - What's The Difference? [ PoW and PoS Explained With Animations ]](http://i.ytimg.com/vi/kVuOI1IefpA/mqdefault.jpg)
Did you spot the Wolf of Wall Street easter egg?! ruclips.net/video/9ikSfs9LETc/видео.html
*Briskdeft* , your commitment to completing this task is admirable. I am grateful for the additional hours and effort you've put in. Your efforts are highly appreciated. Thank you for smoothly handling this task.
Great, since you know what they are, you can stop promoting them now!
haha, good point
We don't actively promote coins, we list all of them. Make sure to always do your own research before trading or investing.
Certain projects can't be 100% determined that its a rug pull. There are many things that can be seen as a red flag, but saying with certainty what projects are 100% rugpulls and what ones 100% aren't is very hard to do. I don't want CMC's judgement to determine what coins we see and what ones we don't. All that said, I don't have any problem avoiding rugpulls. It's easy to spot when something is 'likely' a scam. Just be discerning, it isn't that hard to avoid rugpulls. Most retain plausible deniability which is why cmc can't simply not list rugpulls, even if they wanted to.
@@CoinMarketCapOfficial What if you make an option for people to report scam Coins? or the team will be able to review those coins and they can be removed.
I think it should be in CMC best interest keep the exchange and one of the leadings out there clean and with high accuracy when it comes of legitimacy of projects.
@@JunkBondTrader If it wasn't for sites like cmc and others promoting the garbage coins, then 90% of the people wouldn;t be getting scammed by them.
There needs a standard to get listed on these sites and there needs to be penalties for projects who fail to deliver promises as that's what's seen far too often nevermind the actual rugpulls.
This video was so well put together, I also have to say that Wolf of Wall Street opening got me fired up.
wow, great Rug Pull Explained with Animations , thanks for sharing with us
Well explained video. Nice. Thanks for sharing.
This is impressive. The discussions are well-explained and easy to follow. More tutorials like this please.
Amazing content dear
Thanks for this knowledge
Nice video thank you for sharing this video.
Very nice and amazing vedio.
How to not get rugpulled
Step One: Don't invest in anything that has "Inu" in it's name
Step 2: There is no step 2, just remember Step 1 and you'll avoid like 95% of rugs.
Hex: hold my rug
Very nice video thanks
Great video..
Amazing video
Loved the introduction.
Reminds Abou wolf of the wall street
Nice vedio
Nice topic
Why didn't I see this 3 months ago 😟
Nice video
thanks for the infos, shouldnt YOU check the coin before puting it in "Recently Added" ?
Safemoon rugpull
Hmm.very bad
Nice ❤
one of a well known crypto project name ice network recently did the same you described in in the video
Hey, Thanks for the awareness, but can I know which animation software did you used to create the video.
Adobe After Effects 👨🎨
@@CoinMarketCapOfficial Hm. Thnx 👍
I like this project 👌🏼
Checkdot Audit is best option
dengerin tuh dump sm rugpull itu beda klo rugpull duit lu ilang, kalau dump duit lu ada tapi tinggal dikit
Are RUclipsrs allowed to display a crypto address so we can support a channel?
😍😍😍
I got a question, how can (lets say safemoon) sell off 30 trillion coins at once? Doesn't there need to be 30trillion coins worth of buy orders in order for it to be sold? sorry im a newbie
Yes that’s why you want to dump on high volume so your order gets filled close to the top
It's what you guys love to list
*Briskdeft* I want to take a moment to thank you for your invaluable contributions. Your work goes beyond mere recovery services; you're actively aiding people in need. You've motivated me to pursue a degree in Information Technology so that I can combat individuals lacking in compassion, just like those you confront. *Briskdeft* , your intelligence and compassion are truly commendable 👍👍👍👍👍💯
Love it! Short and sweet and jam packed with info. This is the kind of high quality, helpful content people need to quickly learn how to protect themselves from scams as they navigate the crypto world.
Yes, but it's too bad coinmarketcap neglects to acknowledge complaints of Honeypot scams , which are rug pulls in slomo.
Have you heard about $CRU???
DYOR.
Scammers, promotes scam coins on its platform and does nothing to stop the bot comments. Complete trash of a team.
20,000 types of coins it’s ridiculous there less than 200 countries who is going to buy all these new projects coming out everyday.
No one necessarily. The vast majority of coins will fail, no one is denying that. Lots of opportunity for innovation created by blockchain tech, it isn't surprising there are so many.
Also amount of countries is irrelevant, there are millions and millions of people in crypto
Despite having so many coins out there it's funny cause we are still in the early days of crypto , especially now Metaverse is becoming a thing and we are seeing more and more pushing towards this field , it's also can be a challenge to find those unique projects that still can be first in line in the subject they chose to work on and the opportunities they have to offer.
I think it's not too late for new coins/projects to become one of top100 although it will be a challenge , maybe a year or two .
@@EmilChristensenHeatonyes, blockchain tech creates so many implications. So many sectors and sub industries being formed
You guys stealing topics from CoinGecko? 😅 Just few hours ago, they made a video about Rugpulls and Honeypots on their RUclips channel.
Who did it better tho 👀
Could this apply to Ape Coin ?
Is that a thing still?
the best idea to get rich
That’s why twitter is trash. So many bots promoting coins and ohh look is gonna moon 🌙
SoOoOo... don't list them ...🤪
Knowing what a rugpull is is easy, determining which ones are rugpulls isn't a science. Cmc can't just delist coins they "think" is a rugpull. It's just a site that shows listed coins.
If you think it's possible for them to just determine what is a rugpull then I can just as easily say to you, don't buy them. The key to a "good" rugpull is plausible deniability. They "could" be legit until the moment they decide to pull the rug.
Luna is a giant rugpull
DEXs should audit ALL coins. Investors shouldn't have to deal with scammers.
$BTC
and $WAN
buy and hold
sounds like a hit piece on decentralized exchanges.
I mean these are facts. Rug pulls are easy to pull off and most common on DEXs. Regardless, we all know they are the much better option for trading as opposed to CEXs.
LODICOIN RugPull hahaha
Everything is rugpulling and pyramide systems. The higher you are on the scale, the more you can pull out! That's life.
It's an interesting metaphor, but a project isn't a rugpull if it's based around legitimately interesting technology and the CEOs a
Have no intent of cashing out.
@@JunkBondTrader Also treu!
The life is a pyramide sistem
Statements like "Everything is X" is 100% pure trolling bullshite
@@thesqueedler @Shannon W your statement smells like "100 % " pure horseshit ! I have no intentions of trolling. And it is no statement or fact. Just my opinion!
Pepe is one
Lol?
Every animal astronomical coin name
That's why you should get wapfi a BSC token! It becomes un rugpullable
More 7 more fucking bar of stars ronel Moore for
Wow the name above is so helpful. Got my lost crypto back am forever grateful to him
*AUTOITLAW Legitimately gave me tears of joy in my eyes, such dear people Carl and Kathy, you are a wonderful human being, please never stop helping like this*
Siacoin
So much coping in this video. Cringe. All coins are scam coins.
Pepe, bolt and bonk 100% rull pull scam
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tf is up with the tacky af fap intro
The most ironic thing is how coinmarketcap list Honey pots and rug pulls all the time and when complaints are submitted they are slow to take action , I recently identified two new scams , HydraMeta and Wolfi, coinmarket simply has know competent oversite.
I also got scanned but I've been able to get back my funds. Send me a message if you also wish to get your funds back
CoinMarketCap - News
This channel is a scam, promoting AMZ crypto token. They are using your channel's name and logo and have linked your videos to their channel to make it look legit.
*Briskdeft* , your commitment to completing this task is admirable. I am grateful for the additional hours and effort you've put in. Your efforts are highly appreciated. Thank you for smoothly handling this task.
Nice vedio
*Briskdeft* I want to take a moment to thank you for your invaluable contributions. Your work goes beyond mere recovery services; you're actively aiding people in need. You've motivated me to pursue a degree in Information Technology so that I can combat individuals lacking in compassion, just like those you confront. *Briskdeft* , your intelligence and compassion are truly commendable 👍👍👍👍👍💯
*AUTOITLAW Legitimately gave me tears of joy in my eyes, such dear people Carl and Kathy, you are a wonderful human being, please never stop helping like this*
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Nice vedio
Nice vedio
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