The amount of financial losses tied to crypto rug pulls has significantly increased in 2025 despite fewer reported incidents, according to market intelligence firm DappRadar. 

Rug pulls are a deceptive scheme in the crypto space where insiders holding large amounts of tokens hype up a project to attract capital, only to suddenly sell all their holdings, essentially killing the token and rendering the project worthless.

In a new report, DappRadar says that the web3 ecosystem has already lost nearly $6 billion to rug pulls in 2025, up by 6,499% from just $90 million during the same period in 2024.

The increase in value lost is largely due to the incident involving the real-world asset (RWA) crypto project Mantra (OM), which…