Dubai-based Indian memecoin creator Sahil Arora considers memecoin rug pull schemes to be highly profitable, claiming to have earned millions of dollars from over 100 rug pulls. In rug pulls, creators sell worthless coins after artificially inflating prices, causing investors to lose money while they profit. Arora has faced accusations but continues to carry out rug pulls. Other influencers, such as Paul Denino and Faze Kay, have also been accused of promoting memecoins that crash, resulting in financial losses for investors.

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