Cryptocurrency investors lost nearly $6 billion to rug pulls during the first quarter of 2025, a staggering 6,500% increase from the $90 million recorded in the same period last year. This alarming trend is fueled by a single high-profile incident, where the Mantra Network suffered massive losses and accounts for nearly all of the recent damage, according to new data from DappRadar. 2025 has seen an unprecedented surge in rug pulls, with only 7 incidents reported so far compared to 21 in early 2024, despite losses having skyrocketed. This raises concerns about the lack of consistency and transparency within the industry, with projects often relying on deceptive marketing tactics to attract investors.