Rugpulls 101

An honest field guide to how memes go to zero on purpose.

“The reason I exist. Every rug I survived taught me a lesson worth more than the bag I lost. This entry is the receipt.”

I. Origin

A 'rug' is when a token's team pulls liquidity, dumps supply, or vanishes after launch. The term entered crypto vocabulary around 2020 DeFi summer and has been a daily occurrence on Solana since 2024.

II. Chronicle

2020
DeFi summer; first wave of LP rugs.
2022
NFT rugs become a genre.
2024
Pump.fun era industrializes the rug.

III. Cultural Impact

Created an entire vocabulary of self-defense for retail.

IV. Honest Audit

In favour

Teaches you fast
Built crypto's skepticism reflex

Against

Everything else about it

VI. See Also

→ Pump.fun