Memecoin Architect Confesses: ‘Rug Pulls Are the Fastest Crypto Cash Grab’
Behind the joke tokens and cartoon logos, one developer admits the dark truth—exploiting hype is more profitable than building utility.
‘It’s not fraud, it’s arbitrage on greed,’ shrugs the anonymous creator of 100+ pump-and-dump tokens. Meanwhile, retail bagholders are left checking charts like horoscopes—hoping for a miracle rebound.
Bonus jab: Wall Street calls this ‘market-making.’ Crypto just skips the paperwork.
Arora continues to carry out memecoin rug pulls
Last year, several celebrities accused Arora of using memecoins connected to them to orchestrate and pull off pump-and-dump scams. This included former Olympian Caitlyn Jenner, Dimitri Leslie Roger, an American rapper known as Rich the Kid, and Australian rapper Iggy Azalea.
Despite the accusations and Arora’s non-denial of involvement, he managed to pull off more rug pulls. In February 2025, Arora, who portrays a lavish lifestyle from money earned through rug pulls, launched the token BROCCOLI, an ode to former Binance CEO Changpeng Zhao (CZ’s) dog, using the same wallet he used to launch Jenner’s official memecoin in 2024. Arora told Decrypt that he made $6.5 million by dumping Brocolli tokens.
Pseudonymous crypto consultant Cryptony told the Post that the price of memecoins like Brocolli only goes up because of large demand after endorsements or promotions. He added:
“[In rug pulls] The rich get richer. For one person to make money, another person has to lose money. That’s where it comes from.”
Arora is one of many
Several influencers have been accused of promoting memecoins that crash in value. This includes YouTuber Paul “Ice Poseidon” Denino, Faze Kay, and Haliey “Hawk Tuah Girl” Welch.
Denino reportedly emptied out the liquidity pool of his memecoin two weeks after launch. He admitted to stealing the money from investors, with his total loot standing at around $750,000.
Faze Kay was accused of promoting a token called Save the Kids that crashed. Welch, whose memecoin HAWK lost 95% of its value in minutes, however, was cleared by the U.S. Securities and Exchange Commission (SEC) of any wrongdoing, according to her manager.
