Ever since their introduction, cryptocurrencies have attracted the eyes of investors and hucksters alike. Though the crypto space is characterized by some institutional investors and thin liquidity, it is also rife with scammers. Rug pulls are quite common in DeFi because it is not regulated like the stock market. High APYs and APRs and 100x returns are alluring for new investors. Rug pull is derived from the phrase “to pull the rug out from under someone”, In the crypto space, rug pull is described as a situation wherein the developers of a crypto project pull out support, thereby leaving the investors and users with worthless tokens.