Rugpull Epidemic: Losses Surge 6,500% in 2025 as Crypto Scams Wipe Out $6B — DappRadar

Rugpull remains an epidemic in the crypto space, spreading like wildfire, particularly in projects that rely on hype, and threatening the confidence of investors in Web3 projects.

According to DappRadar, as of 2025, despite being in the second quarter, Q2, nearly $6 billion has been wiped out from the Web3 ecosystem due to rug pulls. The OM Token crash accounts for 92% of the total losses.

🕵️‍♂️ Rugpulls in 2025 are fewer, but far more costly. The Mantra Network case alone accounts for 92% of the $6B lost so far this year.

Is the risk landscape evolving or just more deceptive?
Dive into the data and red flags 👇https://t.co/hQyf2OfbGj

— DappRadar (@DappRadar) April 16, 2025

The losses represent a startling 6,499% increase compared to the $90 million in losses to rugpulls in the same period in 2024.

Although comparing early 2024 to early 2025, the number of rugpull incidents dropped, and the devastating damages they caused skyrocketed.

“In early 2024, 21 separate incidents were recorded, while in 2025, only seven have been reported so far, marking a 66% decrease in frequency year-over-year,” Sara Gherghelas of DappRadar said.

This shift suggests that while rugpulls may be occurring less frequently, their impact has increased significantly. These scams are becoming more sophisticated, often executed by organized teams with sleek branding and carefully crafted narratives.

Data Plays a Significant Role in Identifying Red Flags for Crypto Rugpull

According to the report, DappRadar, the analytics company monitored over 17,000 decentralized applications (dApps) across more than 60 blockchains. Their data offers insights into which projects are experiencing organic growth and which might be exhibiting signs of manipulation.

DappRadar highlighted key metrics that can help investors identify potential red flags.

The report noted that sudden changes in Unique Active Wallets (UAW) or a steep drop shortly after a token launch or liquidity event, without an obvious catalyst, could be indicative of bot activities or an insider dump.

Similarly, a high transaction volume accompanied by low active users could indicate wash trading or internal transfers designed to inflate engagement metrics artificially. This is usually used to mislead potential investors.

Moreover, the presence of unverified smart contracts and anonymous developer teams, as well as untrustworthy investors, is a significant indicator of potential future manipulation.

MANTRA’s OM Token Price Crashed Over 90%

Now to the biggest liquidity loss in 2025, the OM Token crash. Recently, the price of MANTRA’s OM Token crashed by more than 90%, plummeting from $ 6.10 to $0.39 within four hours.

The crash sparked rugpull allegations amid questions over the cause of the loss of billions in market capitalization.

The MANTRA team blamed centralized exchanges for reckless liquidation, which the team is unaware of.

However, a 200% price rebound occurred, but the token has yet to regain its previous status due to a lack of investor confidence.