The crypto industry in 2025 has so far recorded fewer scams than 2024, but they’re costing users dramatically more.

Since the beginning of the year, nearly $6 billion has been lost to rugpulls across the web3 ecosystem, according to a new report by crypto analytics firm DappRadar. Around 92% of that — approximately $5.5 billion — is linked to the recent incident with Mantra’s OM token.

In contrast, losses during the same period in early 2024 totaled just $90 million — this marks a 6,499% increase in funds lost year-over-year, the report notes. This is despite a 66% drop in the number of rugpulls to 7 so far in 2025 from 21 incidents in early 2024.

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