The House for coins is usually the coin creators who grant themselves a hefty chunk of the coin during initialization then often sell off rapidly when the coin

The House for coins is usually the coin creators who grant themselves a hefty chunk of the coin during initialization then often sell off rapidly when the coin gets any traction. It's even more popular with Eth shitcoins where they can drain the real coins other people have put in out of the swap contract in exchange for their. It's so common there's new derivatives of the phrase "rug pull" that have existed for years in the space talk about the projects that turn out to be hollow money boxes for the creators to pillage. A new wrinkle is project will claim that initial coin grants are locked but just not put that functionality in the contracts that define the code so the creators can still just rug the coin.