Crypto Scams: The Wild West of Digital Gold! 🤠💰

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Ah, the world of crypto! A place where dreams are spun like cotton candy, and rugpulls have become the new black! In the first quarter of 2025, these charming little scams have managed to wipe out nearly $6 billion! Yes, you heard it right, a staggering 6,500% increase from a mere $90 million last year. Who knew losing money could be so fashionable? 💸

According to the latest DappRadar report, Web3 projects have been on a rollercoaster ride, losing almost $6 billion to rugpulls since the dawn of 2025. And guess what? A single case, the infamous Mantra incident, is responsible for a whopping 92% of this financial fiasco! Talk about a one-hit wonder! 🎤

But hold your horses! Despite the financial carnage, rugpulls are becoming as rare as a unicorn sighting. DappRadar reports only 7 incidents in 2025, down from 21 in early 2024. It seems like the scammers are taking a breather, or maybe they just ran out of ideas! 🤔

Now, let’s talk about the Mantra Network. Gherghelas, the blockchain oracle, points out that misleading signals can hide in plain sight. The platform’s all-time high in Unique Active Wallets was a staggering 64! Yes, 64! Recorded in December 2024. It’s like throwing a party and only inviting your pet goldfish! 🐠

“Outside of that brief spike, daily wallet interactions consistently ranged between 1 and 11, with multiple days showing zero activity altogether. This lack of consistent user engagement points to low traction, a potential red flag for any project claiming growth or adoption.”

Sara Gherghelas

Gherghelas also raises eyebrows over transaction data, noting that some days “registered as many as 66 transactions,” only to drop back to zero faster than a cat on a hot tin roof. These irregular patterns scream “inorganic engagement” — a classic sign of dapps trying to look busier than they really are. It’s like putting lipstick on a pig! 🐖💄

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2025-04-18 11:45