Here's a guide that could help you turnaround a project that's been rugged. It's structured in questions that could lead to possible actions for you to take.
Is it actually a rug?
Upon receiving a request for assistance with re-listing a derugged project, our team will assess the original project to ensure that it was actually a rug. If it is a flagged collection, or investigation reveals that it should be flagged, we can continue to assist your efforts to get the derugged project back up and/or listed without the flag.
Do you hold the update authority?
If you hold the update authority you can change the royalty wallet, art and/or metadata of the collection. Please note that Magic Eden can not make these changes for you. The update authority needs to be obtained from the original creators of the collection. Obviously, creators that have rugged are notoriously hard to reason with, and/or contact, as they are usually absent quickly following their scam.
If you do somehow hold the update authority and plan to change the artwork and metadata, make sure you reach out to us to coordinate listing/flag removal once your update completes.
Do you wish to derug by doing an airdrop?
Many project deruggers choose the option of airdropping a NEW collection to all of the holders of the existing collection. This way, they are able to have control over the new collection, while keeping the community together. If you choose to use this option, please make sure to reach out to us to coordinate removing the flagged collection NFTs from the marketplace prior to your airdrop. This ensures that all community members receive your new tokens, as they are often unaware of the derugging effort.
If you do not have the update authority, your best bet is to consult a project dedicated to derugging. One we know of is Solana Sanctuary. We'll keep updating this list as we learn of other similar projects.