To carry out a rug-pull.
Here comes the rug pull, now that his friends have bought up cheaper oil contracts.
The open source branding always felt like a strategic bridge for them to gain developer mindshare. It’s a bit of a rug pull for anyone who actually bought into the vision of a more open ecosystem.
When the developers of a crypto project (usually a token or NFT) suddenly drain liquidity and abandon the project, leaving holders with worthless assets. By extension, any sudden abandonment by a creator or platform.
"That memecoin rug-pulled at 9pm — millions gone."
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Past participle of 'rug' (rug-pull). To be defrauded by a project that abruptly disappears with investor funds. Crypto-native but spread to any platform shutdown without warning.
To buy recklessly large amounts of an untried cryptocurrency.
(North America, slang, vulgar) A hastily fabricated explanation or contrived plot twist.
(US, colloquial) To appear to make someone a promising offer, only to withdraw it to the detriment of the other party.
Rug pull means: When the developers of a crypto project suddenly drain liquidity and abandon the project, leaving holders with worthless assets. By extension, any sudden abandonment by a creator or platform.. It is crypto-trading vocabulary; common on X, Discord servers, and trading-Telegram groups your teen may follow. There is no real cause for parental concern; it is descriptive vocabulary rather than risky behaviour.
rug pull means: When the developers of a crypto project suddenly drain liquidity and abandon the project, leaving holders with worthless assets. By extension, any sudden abandonment by a creator. Register: very informal, crypto/finance subculture. Suitable only for casual conversation, chat and social media. Do not use in business, academic or news writing. A common learner mistake is using the word in a register it does not fit, or assuming a single global meaning; native speakers immediately notice when slang appears in formal contexts, so always check the surrounding register before producing it yourself.
“Here comes the rug pull, now that his friends have bought up cheaper oil contracts.”
“The open source branding always felt like a strategic bridge for them to gain developer mindshare. It’s a bit of a rug pull for anyone who actually bought into the vision of a more open ecosystem.”
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To carry out a rug-pull.
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