🧠 Crypto Glossary: Learn a new term related to trading and cryptocurrencies every day.
32. 🏚️ Rug Pull
It is a scam in which the creators of a crypto project suddenly withdraw all funds from a liquidity pool or a smart contract, leaving investors with losses.
Example: A new token promises high returns, but after many invest, the creators withdraw all the money, and the price of the token plummets to zero.
And there you have it! Every day you will learn a new term from the crypto world. Ready to become an expert? Well, I don't know about that expert part... but at least you are no longer a novice! 🤓
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