# kaal:claim:4067783-003

**Claim.** Rug pulls grew sharply as a share of crypto crime: of the $7.7 billion in total illicit crypto revenue in 2021, 37 percent came from rug pulls, up from 1 percent of illicit revenue in 2020.

**Type.** empirical  **Support.** evidenced

**Holds when.**

- 2021 data
- measured as a share of total illicit crypto revenue

**Source quote.**

> In 2021 alone, the total illicit revenue from crypto scams was $7.7 billion; 37% of that total resulted from "rug pulls," an increase from the 1% of total illicit revenue in 2020.

**From.** Wulf A. Kaal, *DAO Fallacies* (2022), I. Introduction, page 4

**Cite as.** Wulf A. Kaal, DAO Fallacies (2022). SSRN: https://ssrn.com/abstract=4067783

**Verify.** sha256 of source PDF `48f1e307cdbbe28c7843f7744d0ba8cf01662f257a53f2066a7a6c7e03a5acec` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202022%20-%20DAO%20Fallacies.pdf

**Failure mode.** Rug pull share of illicit crypto revenue  (family: fraud-and-misconduct)

**Topics.** empirical-evidence

**Keywords.** rug-pull, crypto-crime, empirical-data, fraud

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