A rugpull happens when developers pull out liquidity from a dex. This basically means they steal all the money in a pool and then zoom off.
Some actions that usually follow this is project website and socials taken down.
If you have never been rugged, you wouldn’t know the feeling. And that’s a good thing in itself for you. A rugpull hurts!
However, why do these developers pull out liquidity?
Well, some projects are launched with the sole intention to steal user funds. The developers had no intention of bringing the project to life. This is the most common reason so far
In our subsequent articles, we will talk about what to do to avoid being rug pulled
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