Inventor of more than 100 memecoins claims that rug pulls are the simplest method to generate profit.

Dubai-based Indian creator of memecoins, Sahil Arora, referred to rug pull schemes as extremely profitable in a recent interview. He claimed to have generated millions from over 100 such ventures, stating, “The quickest method to earn money is to launch a meme coin, manage it, and cash out as soon as you see profits.”

In these scams, malicious creators fabricate a worthless memecoin, promote it through misleading endorsements, and liquidate their holdings once prices rise. Typically, these creators retain a significant share of the tokens, causing the value to plummet when they sell.

As a result, investors suffer losses while the creators pocket substantial sums. In August 2024, crypto investigator ZachXBT estimated Arora’s earnings from these schemes to be between $2 million and $3 million.

Last year, Arora mentioned that executing these scams required significant cleverness. He proudly embraced the title of “super villain,” declaring that rug pulls represent “the biggest casino on Earth right now.”

Seasoned crypto investor Kyle Chassé remarked, “In a casino, there’s at least a chance the house wins 60 percent of the time. In this crypto environment, the house prevails 99 percent of the time.”

Arora further commented, “If you don’t get taken advantage of by me, someone else will, so it’s better to be scammed by someone with a successful history than a complete stranger online.”

### Arora Continues the Practice

Last year, several public figures accused Arora of exploiting their names in memecoin schemes. This list included former Olympic athlete Caitlyn Jenner and musicians Rich the Kid and Iggy Azalea.

Regardless of the allegations and his ambiguous responses, Arora has continued his pattern of rug pulls. In February 2025, he launched a token called BROCCOLI, inspired by the dog of former Binance CEO Changpeng Zhao, using the same wallet associated with Jenner’s official memecoin created in 2024. He claimed to have made $6.5 million by liquidating Brocolli tokens.

One anonymous crypto expert noted that the rise in memecoin prices like Broccoli stems purely from demand generated through endorsements. He stated, “In these scams, the rich benefit at the expense of others. One individual’s profit means another’s loss.”

### Arora is Not Alone

Numerous influencers face allegations of promoting memecoins that subsequently plummet in value. Notable figures include YouTuber Paul “Ice Poseidon” Denino and Faze Kay, along with Haliey “Hawk Tuah Girl” Welch.

Denino reportedly drained the liquidity pool of his memecoin within two weeks of its launch, admitting to investor theft totaling approximately $750,000.

Faze Kay was accused of endorsing a token named Save the Kids that collapsed, while Welch, whose memecoin HAWK dropped 95% in mere minutes, was cleared by the U.S. Securities and Exchange Commission of any misconduct, according to her representative.