In the first quarter of 2025, Web3 projects faced significant losses due to rugpulls, totaling nearly $6 billion. This figure marks a 6,500% increase compared to the same period in 2024.
Overall Rugpull Losses
According to DappRadar's report, rugpull losses reached nearly $6 billion since the beginning of 2025, a significant rise from the $90 million reported in the same period last year.
Major Loss Incidents
As noted by DappRadar's blockchain analyst Sara Gherghelas, a substantial portion of these losses is tied to the Mantra incident, regarded as one of the largest recorded scams in recent years.
Analysis of Rugpull Situation
Despite the financial toll, the frequency of rugpull incidents has decreased: only 7 cases have been reported in 2025, a 66% decline from the 21 incidents in early 2024. This indicates that, despite increased losses, such fraudulent schemes have become less common.
Thus, the rugpull situation in the cryptocurrency world at the beginning of 2025 showcases an increase in financial losses alongside a decrease in the frequency of scams, suggesting potential improvements in the monitoring of these projects.
