Losses from crypto rug pulls outpaced DeFi exploits in May: Beosin By Cointelegraph


The amount of cryptocurrency lost to “rug pull” or “exit scams” — where founders suddenly up and leave with investors’ money — had outpaced the amount stolen from decentralized finance (DeFi) projects in May, a blockchain security firm has revealed.

A June 1 report from Beosin said May losses from rug pulls and scams reached over $45 million across six incidents.