Pulled rugs
Project details
- Year
- 2022
- Programme
- graphic-design
- Practices
- commercial
- Minor
- Data Design
Rug pulls are a scam where developers build and promote what appear to be legitimate cryptocurrency projects with the intent of creating large amounts of interest.
Once enough money has been invested they steal the funds and disappear leaving the investors empty handed. Metaphorically pulling the rug from underneath them.
Increase in mainstream media reporting and the recent craze surrounding NFTs have piqued my interest in a topic I knew next to nothing about. This increase in popularity has the unfortunate side effect that it also provides scammers with a large amount of new targets to take advantage of.
Using the insights from my research I made a visualisation of the 14 largest decentralised rug pulls that have occurred in 2021. Merging the concept and the medium of an actual rug with the intent of shedding a light on one of the most frequently occurring pitfalls of investing within the decentralised economy.
