The 10 biggest cryptocurrency rugpulls in history

Cryptocurrency has been around for over a decade now and has come a long way since its inception. However, just like in any other industry, the crypto world has seen its fair share of scams and fraudulent activities. The term “rugpull” refers to a sudden exit scam in which the creators of a project or investment opportunity suddenly disappear, taking all of the invested funds with them. In this article, we will discuss the 10 biggest cryptocurrency rugpulls in history.

1. PlusToken: PlusToken was a high-yield investment program that promised to offer returns on investments. The project raised over $3 billion from investors before disappearing in June 2019.
2. Fantom Foundation: The Fantom Foundation raised over $40 million through its initial coin offering (ICO) in 2018. However, the project soon turned out to be a rugpull and the creators disappeared, leaving investors with nothing.
3. PonziCoin: PonziCoin was a classic example of a Ponzi scheme that promised high returns on investments. The project raised over $150,000 before disappearing in 2017.
4. Bitconnect: Bitconnect was a lending platform that promised to offer returns on investments. The project raised over $2.5 billion before collapsing in January 2018.
5. LoopX: LoopX raised over $4 million through its ICO in early 2018. However, the project soon turned out to be a rugpull and the creators disappeared, leaving investors with nothing.
6. Savedroid: Savedroid raised over $50 million through its ICO in 2018. However, the project soon turned out to be a rugpull and the creators disappeared, leaving investors with nothing.
7. CloudToken: CloudToken promised to offer high returns on investments through a trading bot. The project raised over $60 million before disappearing in 2019.
8. DeFiPlus: DeFiPlus raised over $5 million through its ICO in 2020. However, the project soon turned out to be a rugpull and the creators disappeared, leaving investors with nothing.
9. MMM Global: MMM Global was a Ponzi scheme that promised to offer returns on investments. The project raised over $10 billion before collapsing in 2016.
10. OneCoin: OneCoin was a multilevel marketing scheme that promised to offer returns on investments. The project raised over $4 billion before collapsing in 2016.

In conclusion, rugpulls are a common occurrence in the cryptocurrency world, and investors must exercise caution when investing in new projects. It is always advisable to thoroughly research a project before investing and to invest only what one can afford to lose.

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