Memecoin Creator Claims Rug Pulls Are Lucrative Amid Crypto Boom

BTCC / BTCC Square / Global Cryptocurrency /

Author:

Release Time:

2025-05-18 03:13:02

Dubai-based Indian entrepreneur Sahil Arora, creator of over 100 memecoins, has openly described rug pulls as the "easiest way to make money" in the current crypto landscape. In a May 17 interview with the New York Post, Arora boasted of earning millions by deploying meme coins, hyping them, and dumping his holdings at peak prices—leaving investors with worthless assets.

Rug pulls, a form of pump-and-dump scheme, involve creators controlling large token allocations and cashing out abruptly. Crypto investigator ZachXBT estimated Arora’s illicit gains reached millions by August 2024, though the exact figure remains undisclosed. The revelation underscores persistent risks in the unregulated memecoin sector, where projects like SHIB, PEPE, and FLOKI often attract speculative capital.

By:

Log in to Reply

Analysts Outline the 5 Best Altcoins to Buy for May 2025 With Strong Growth Potential

Articles on this site are sourced from public networks or curated by AI for informational purposes only and do not represent BTCC’s views. Original rights belong to the respective authors. For copyright concerns, please contact [email protected]. BTCC assumes no liability for the accuracy, timeliness, or completeness of this information, and disclaims all liability arising from reliance on such content. This content is for reference only and should not be taken as investment, legal, or commercial advice.