Krutika Adani
Due to a bull run and more unsuspecting users than ever, rug pulls have skyrocketed in 2024.
These rug pulls were major contributors to crypto losses, especially due to frequent incidents in Solana memecoins.
However, the month of May 2024 saw a 12% month-on-month decrease in crypto losses, according to a report by ImmuneFi.
Among all the projects that were rug pulled, Gala Games and Sonne Finance together caused a $41 million loss.
The report also highlights that decentralized finance was the main target of these rug pulls.