Rug pulls may have happened less often in 2025, but the financial damage they're causing has increased dramatically

Their report shows just seven incidents recorded this year - that's down 66% compared to 21 rug pulls seen in the same period last year.

The year 2025 has seen a decrease in the number of rug pulls, but the financial damage inflicted by these scams has increased dramatically, according to blockchain analytics firm DappRadar.

Their report, which focused on the first half of 2025, reveals that just seven rug pull incidents were recorded, marking a 66% decline compared to the 21 cases reported in the same period last year. However, the total value lost to these scams has risen massively.

Early last year, the collective losses from rug pulls amounted to about $90 million. However, by the beginning of 2025, the figures were even more staggering, with nearly $6 billion lost to rug pulls.

Of this year’s damage, about 92% is linked to the Mantra Network project, which faces accusations of pulling off one of the largest rug pulls ever. The project, which ran on the Polygon (CRYPTO: MATIC) blockchain and was listed on DappRadar, saw a sharp jump in on-chain activity around mid-April, just before the alleged rug pull.

This surge in activity brought transaction volume to its highest point since December 2023, with nearly $800 in volume being processed at the peak of mid-April. Transaction count and unique active wallets (UAW) also saw significant increases during this period.

However, it’s worth noting that Mantra’s activity was typically low, with only two periods of increased activity in the past. One spike occurred in December, when volume topped $2,000 and UAW hit about 65, and another spike happened last June. There was no steady upward trend seen until that burst of activity in mid-April.

This incident really highlights this costly trend.

Shift In Scam Targets And Tactics

Early 2024 saw a more even spread of rug pulls across DeFi, NFT, and memecoin projects. However, the incidents recorded in 2025 have focused mainly on the memecoin sector.

While this narrows the focus of the threat, the effectiveness of these scams appears higher.

This shift in targeting aligns with the changing landscape of the crypto market. In the past year, memecoins have seen a resurgence in popularity, while DeFi protocols have faced challenges.

Furthermore, the report from DappRadar suggests that scam teams are using better branding and more structured stories, making risks harder to spot early on.

As DappRadar analysts noted, rug pulls are less frequent now, but more damaging and harder to detect.