Rug Pull is used by scammers who want to steal money from anyone stupid enough to fall for the pointless shitcoin hype.

The scammers will quickly create a token on the back of the hype, do some airdrop and charge others to start FOMOing, and then they’ll run off with the money, throwing it all away, and you’ll never see them again. More like pulling the rug out from under you.