There have been fewer rug pulls so far in 2025, but their costs have skyrocketed, according to a report from DappRadar. Rug pulls are essentially crypto exit scams where developers or big investors suddenly cash out, causing the coin’s value to plummet.

Since the beginning of 2025, the crypto ecosystem has lost nearly $6 billion to rug pulls. Strikingly, 92% of that amount is tied to the Mantra incident, which caused the OM token to drop from about $6.30 to under $0.50 within a couple of hours on April 14, leading to accusations of a rug pull.

This represents a whopping 6,499% increase in value lost when comparing the same year-to-date period in 2025 and 2024, when total rug pull losses stood at $90 million.