rug-pull
AI In plain words
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Written by a house AI from the entry below, in your language. The entry itself is the source.
rug-pull
- /ˈrʌɡˌpʊl/ US, UK
Where it comes from
A back-formation from pull the rug out from under.
noun rug-pulls · rug pull · rugpull
- A sudden revelation that completely contradicts the assumptions one has been led to believe. Perhaps this necessity to be on guard for the next rug-pull is what makes A Footstep of Air proceed in fatiguing seesaws instead of invigorating changes of pace.
- A fraud or scheme where the leaders of a project or company (especially in cryptocurrency) deceive others into investing, before the project or company is abandoned or found to lack value. Victims of rug pulls are often left with little recourse against nameless thieves. […] The anonymous founders of a crypto collective called AnubisDAO raised nearly $60 million in a few hours last year; less than a day later, the funds disappeared in the second-largest rug pull of 2021, according to
