Web3 social trading platform Fantasy.top is facing allegations of a “slow rug pull” after several early investors claimed the project’s team stopped communicating and refused to return funds following delays in the platform’s development.
The controversy began when a group of angel investors publicly accused the project of abandoning commitments tied to early funding rounds. According to the investors, the team behind Fantasy.top allegedly stopped responding to messages and declined requests to refund their investments, prompting accusations that the project was quietly shutting down while keeping investor capital.
Investors Claim Communication Broke Down
Fantasy.top initially gained attention in the Web3 gaming and social trading space by offering a platform where users could buy and trade digital trading cards tied to crypto influencers and social media personalities.
Early supporters reportedly invested during the platform’s initial funding stages, expecting continued development and product expansion. However, some investors say the project’s progress slowed dramatically and that communication from the founding team largely disappeared in recent months.
Frustrated investors began raising concerns publicly on social media, labeling the situation a “soft rug pull”—a term used in crypto to describe projects that do not disappear overnight but gradually abandon development or investor obligations.
Founder Pushes Back Against Accusations
Fantasy.top’s founder has denied the allegations, arguing that the claims are mischaracterizing the situation and that the project has not intentionally abandoned investors.
According to the team, the dispute stems from disagreements over early investment terms and refund expectations rather than any attempt to defraud backers.
The founder also suggested that the platform’s development challenges and shifting market conditions contributed to delays, which some investors interpreted as the project going silent.
Growing Scrutiny Around Web3 Startups
The incident highlights a recurring tension in the Web3 ecosystem: early-stage crypto projects often raise funds quickly but may lack traditional investor protections when development stalls or business plans change.
Terms such as “rug pull,” “soft rug pull,” or “slow rug pull” have become increasingly common in the crypto industry as communities attempt to distinguish between outright fraud and projects that simply fail or lose momentum.
