A rug pull is a type of cryptocurrency scam where developers create a token, often a meme coin, attract investors by generating hype, and then suddenly withdraw liquidity or sell off their holdings, leaving other investors with worthless tokens. This malicious act results in significant financial losses for unsuspecting traders and has become a growing concern in the crypto space, especially with the rise of meme coins on blockchains like Solana. A rug pull occurs when the creators of a crypto project, typically a new token or meme coin, build interest and attract investments but then abruptly remove funds from liquidity pools or dump tokens.