A rug pull is a term used in the cryptocurrency industry to describe a fraudulent scheme in which a cryptocurrency project or its founders suddenly and unexpectedly "pull the rug out" from under their investors by disappearing and running off with the funds that have been invested in the project. This type of scam is often characterized by the founders of the project promoting the project heavily in order to attract investors, and then suddenly disappearing and shutting down the project once they have raised a sufficient amount of money. Investors who have bought into the project may then find that their funds are lost and that they have no way to recover them. It is important to thoroughly research and evaluate any cryptocurrency investment before deciding to put money into it, in order to avoid falling victim to a rug pull or other scam.
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