Rugs and Rug Pulls (2/9)

Rugs are the opposite of Moons..

Unfortunately, in the wild, wild west that is the cryptocurrency space, there are many projects with bad intentions.

A “rug pull” is a project that boasts all kinds of aspirations, gets your to invest and then when the price starts to rise “pull the rug out from under you” and sells all their coins, crashing the market.

Not all rug pulls are nefarious, sometimes good intentions die young, but you probably can’t consider yourself a veteran of crypto until you’ve experienced one rug pull, although my fingers are crossed that it never happens to you!