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What Constitutes a ‘Rug Pull’ in the Context of a Failed Crypto Project?

A 'rug pull' is a malicious maneuver where the project's developers suddenly drain the liquidity pool and abandon the project, leaving investors with worthless tokens. This is typically executed by teams with anonymous identities and significant token control, often after an aggressive marketing push.

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What Is a “Rug Pull” and How Is It Related to Token Approval?