Rug Pulls Galore (Assorted)
Ah, the rug pull. Such scams have become very popular as of late; they occur when the developers behind a particular crypto project pump up their asset and then suddenly pull out, absconding with investors’ money. This summer, there have been plenty of them. You can take your pick from the numerous DeFi projects that have been accused of taking the money and running: there’s the allegations against yield aggregator Blur Finance (which closed up shop after the anonymous developers made off with $600k), the $4.5 million allegedly yanked from investors in something called TEDDY tokens, and, just a week ago, a brand new project, SudoRare, collapsed in what investors allege was a rug pull. A recent estimate found that some $2.8 billion vanished as a result of the scams last year alone. Not great.
