What is the biggest rug pull in crypto?

The biggest rug pull scams included the Turkish crypto exchange Thodex , where the founder disappeared shortly after the exchange halted users’ ability to withdraw their funds, ultimately taking roughly US$2.6 billion, and the Doge-themed Anubis DAO where US$58 million was stolen.

Before you purchase any token listed on a decentralized exchange. Most fraudulent crypto developers are anonymous and are not directly tied to their tokens. Check out the creators of any project before buying the token and also check out their social media profiles .

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.