A rug pull is a type of scam in the cryptocurrency and meme coin space where developers suddenly withdraw liquidity or abandon a project after collecting investors’ funds, leaving them with worthless tokens
#grownostr #freedom #bitcoin
Discussion
Older than that. JP Morgan for example at the Great Depression. Surely a rug pull should simply be considered the scamming of fast return chasers by people with asymmetric knowledge?
Yeap, rug pull is probably the same scam just with crypto and memecoins specifically
Well that sent me down a little rabbit hole. First used as a term in 1828 but for political context. Rug pulling being the withdrawal of support. Most stuff online refers to it being a relatively new term used particularly for crypto. I definitely remember its use in a few newsletters back in the great banking theft of 2008. Interesting. Thanks!