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Rug Pull

A term denoting a scam where a project turns out to be a cash grab and is abandoned by developers once they have secured some funds.

Rug pull, as the name suggests, compares the act of pulling the rug from under someone to developers of a project abandoning it and fleeing with all the funds.

Such type of scams have been largely prevalent in the crypto space given how most teams remain anonymous and users often don't have the means or information to pursue cases.

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