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rug pull

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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Another crypto rug pull; the value of her crypto tokens went to zero.

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Submitted on April 27, 2022

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Nearby phrases

Some more phrases from our dictionary similar to rug pull

snug as a bug in a rugunder the rugthe whistle does not pull the trainrug uppull up stumpsthe whistle doesn't pull the trainSweep under the Rugpull up a floorpull up a floorPull Yourself Togetherpull uppull up stakesPull the Wool over Your EyesPull up Stakes

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    "rug pull." Phrases.com. STANDS4 LLC, 2024. Web. 26 Apr. 2024. <https://www.phrases.com/phrase/rug-pull_63143>.

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