Why are rug pulls illegal?

Why are rug pulls considered illegal in the world of cryptocurrency? Aren't they just a part of the risk that comes with investing in this highly volatile and unregulated market? Shouldn't investors be aware of the potential for scams and take the necessary precautions to protect themselves? Or is there more to it than just that? Could rug pulls be seen as a form of fraud or theft, and if so, how does the law view them? It's an important question to consider, especially as the cryptocurrency industry continues to grow and attract more investors.