Crypto -Rugs have wiped out almost $ 6 billion in Q1 2025, an increase of 6,500% compared to just $ 90 million a year earlier, according to data.
Since the beginning of 2025, Web3 projects have lost almost $ 6 billion to Rugpulls, an increase of 6,499% compared to the $ 90 million that was registered in the same period last year, according to a new D -Mappadar report.
As the blockchain analyst of D -Adar Sara Ghaghelas notes, a single case is responsible for the most damage, because 92% of the amount “is bound to the Mantra incident”, which she describes as “one of the largest individual scams that has been recorded in recent years.”
Despite the financial toll, back straps have become less common. Dapradar discovered that “only 7 [incidents] have been reported so far ”in 2025, compared to 21 early 2024, which marks a frequency of 66%, even because losses have exploded.
The Mantra network case shows how misleading signals can hide in sight, say Ghaghelas, adding that the all time of the Platform of all time was in unique active portfolios “only 64, recorded in December 2024.”
“Apart from that short peak, the daily wallet interonent interonors consistently varied between 1 and 11, with several days that completely showed zero activity. This lack of consistent user involvement points to low traction, a potential red flag for each project that claims growth or acceptance.”
Sara Ghaghelas
Ghaghelas says that transaction data has also been worried, since some days ‘registered no fewer than 66 transactions’, and added that ‘activity has fallen back to zero just as often’. The irregular patterns can indicate “inorganic involvement – common signs in Dapp’s that can be manipulated to look more active than they are,” says Gherdhelas.
