What is a rug pull crypto

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The core development team gives or offer exclusive digital goods, to lose.

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A rug pull is a scam where a cryptocurrency or NFT developer hypes a project to attract investor money, only to suddenly shut down or. Rug pulls are an �exit scam� in which developers make promises, then quickly �exit� with investors' funds. Exit scams can fall into a legal gray. One common scam in the crypto space is called a �rug pull,� where a developer or creator will promote a project such as a new coin or NFT.

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This is considered a hard rug pull, as the developers created the project with malicious intent baked in. What is a Rug Pull? However, some states are stepping up efforts to combat crypto fraud, even for scammers playing the long game.