Sat. Nov 27th, 2021
    Rug Pull, Wiki

    Rug pull is one of the most common types of fraud in the crypto world. Attackers issue a coin and make a fuss about it, promising it will appear on large decentralized exchanges (they do not require verification like centralized ones). When users buy this hyped cryptocurrency for well-known coins (such as Ether), the organizers simply disappear with the money.

    To be on the safe side when dealing with a new cryptocurrency and not fall for the ruse of attackers, you need to make sure the liquidity pool is closed — this will prevent the organizers from making off with the user’s digital assets.