A rug pull refers to a deceptive maneuver executed by dishonest individuals or groups in the cryptocurrency market. In a rug pull scheme, the scammers manipulate the value of a particular cryptocurrency token with the intention of tricking investors and users into buying the token, only to abandon it later. The scam artists typically create a façade of a legitimate project to gain trust and attract a significant number of investors. Once they have accumulated a substantial amount of investment, they execute the rug pull by abruptly removing liquidity, causing the token's value to plummet and leaving investors with worthless holdings.