How does a crypto rug pull work?

Rug pulls happen when fraudulent developers create a new crypto token, pump up the price and then pull as much value out of them as possible before abandoning them as their price drops to zero . Rug pulls are a type of exit scam and a decentralized finance (DeFi) exploit.

The token will allow holders to compete in online games inspired by the show—but it’s been labeled a scam.

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