EAS

Report: The number of "Rug Pull" incidents in the cryptocurrency sector has decreased, with only 7 cases reported from 2025 to present

ChainCatcher news, according to a report by Cointelegraph, based on the latest report from the blockchain analysis platform DappRadar, there were 21 "Rug Pull" incidents at the beginning of 2024, while there have only been 7 incidents so far in 2025, indicating a yearly decline in their frequency. However, since the beginning of 2025, the Web3 ecosystem has lost nearly $6 billion due to such incidents, with 92% attributed to the collapse of Mantra's OM token (the token's founder denies this was a "Rug Pull"). In contrast, the total losses from "Rug Pull" incidents during the same period in 2024 were $90 million.DappRadar analyst Sara Gherghelas pointed out that although the frequency of such incidents has decreased, their destructiveness has increased, and the scams have become more complex, often orchestrated by professional teams. The nature of these incidents is also evolving; in the first quarter of 2024, many originated from DeFi protocols, NFT projects, and Meme coins, while in the same period of 2025, they mostly occurred in the Meme coin sector. Gherghelas also warned that a sudden surge in the number of unique active wallets, high transaction volumes but low user activity, unverified smart contracts, limited GitHub activity, anonymous developer teams, or projects with sudden spikes in DApp activity could all be warning signs of a "Rug Pull."

The cryptocurrency market sector has stabilized and rebounded, with the AI sector leading the rise at 3.98%, and the GameFi sector increasing by 2.62%

ChainCatcher message indicates that, according to SoSoValue data, the cryptocurrency market sector has stabilized and rebounded, with the AI sector leading with a rise of 3.98%. Within this sector, Fetch.ai (FET), Render (RENDER), and Bittensor (TAO) have increased by 6.94%, 8.98%, and 10.36% respectively over the past 24 hours. However, Fartcoin (FARTCOIN), which had previously seen significant gains, is experiencing a correction, dropping 12.89% in the last 24 hours.Other standout sectors include: the GameFi sector, which rose 2.62% in the last 24 hours, with ImmutableX (IMX) increasing by 4.81%; the NFT sector, which rose 1.96%, with APENFT (NFT) and Pudgy Penguins (PENGU) increasing by 2.20% and 8.07% respectively.Additionally, the Layer1 sector increased by 1.48% in the last 24 hours, with Binance Coin (BNB) and Solana (SOL) rising by 1.09% and 3.63% respectively; the Layer2 sector rose by 0.95%, with Celestia (TIA) increasing by 4.50%; the CeFi sector rose by 0.71%, with Hyperliquid (HYPE) up by 8.10%; the DeFi sector rose by 0.48%, while the PayFi sector fell by 0.52%, and the Meme sector decreased by 0.92%.Meanwhile, the cryptocurrency sector indices reflecting historical market performance show that the ssiAI, ssiNFT, and ssiDePIN indices have increased by 4.66%, 2.67%, and 2.61% respectively, with weekly returns of 1.81%, 1.23%, and 0.90%.

The cryptocurrency exchange eXch announced it will cease operations on May 1 due to money laundering allegations

ChainCatcher news, according to Cointelegraph, the cryptocurrency exchange eXch announced that it will cease operations on May 1. Earlier reports indicated that the exchange was used for money laundering, involving some of the stolen funds from the $1.4 billion hack incident related to Bybit.In an announcement on April 17, eXch stated that the majority of the management team voted to adopt a "stop and retreat" strategy in response to allegations that the North Korean hacking group Lazarus Group laundered approximately $35 million through the platform—funds that originated from the $1.4 billion hack suffered by Bybit.The exchange claimed it had become a target of a "transatlantic joint law enforcement operation" aimed at shutting down its business and potentially filing criminal charges. eXch stated in its announcement: "Although we have withstood multiple attempts to shut down our infrastructure and maintained operations, we believe it is pointless to continue operating in an environment where we have become a target of signals intelligence surveillance, solely due to the hostile environment created by the misinterpretation of our mission by certain individuals." The exchange initially denied blockchain detective claims that it assisted the Lazarus Group in laundering money but acknowledged handling a "very small portion of funds" from the February hack incident.
ChainCatcher Building the Web3 world with innovators