4 months ago
22 ARTICLE AD
The JENNER meme coin's market cap is down from $43 million to $5 million after the scandal, while other celebs have followed suit and called out Arora.
Sahil Arora, a celebrity memecoin promoter, has been banned from the social media platform X following accusations of orchestrating “pump and dump” schemes involving celebrity-themed memecoins.
Several celebrities, including Caitlyn Jenner and Iggy Azalea, have called out Arora for his alleged involvement in these scams.
According to the accusations, Arora acted as a middleman, launching tokens on behalf of celebrities, having them promote the tokens, and then dumping his own holdings to withdraw liquidity, causing the price to plummet. This is a common risk in the largely unregulated memecoin market.
One such token, JENNER, reportedly rose to a market cap of $43 million within 24 hours of its launch but subsequently fell sharply. The token’s market cap has since dropped to roughly $5 million.
Caitlyn Jenner took to X to accuse Arora of scamming her:
https://x.com/Caitlyn_Jenner/status/1795269306693075404
It appears that Arora has a separate X account affiliated with Hype Strategy, an advertising and marketing agency based in Florida. In the said account, Arora claims that Jenner rugged the token.
https://x.com/sahilbuilds/status/1797776925840085468
American mumble rapper Rich the Kid also claimed on X that his account was “hacked” to promote a coin “by Sahil,” who then allegedly “made a pump and dump and dumped all the money to his account” prior to blocking the celebs he allegedly scammed.
A separate incident shows that Arora allegedly posted fake screenshots that implied some degree of involvement with the launch of IGGY, a meme coin inspired by Australian rapper Iggy Azalea. The rapper later responded to the claims and launched her own token, MOTHER, on Solana.
According to a report from The Block, the account responded to queries and released the following statement:
“[T]hey hate what they can’t create, they try everyday to shut me down but nothing will really make me quit. this just powers me up more to do crazy and epic sh*t and i have a lot more big moves incoming to shake the space.”
The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
Crypto Briefing may augment articles with AI-generated content created by Crypto Briefing’s own proprietary AI platform. We use AI as a tool to deliver fast, valuable and actionable information without losing the insight - and oversight - of experienced crypto natives. All AI augmented content is carefully reviewed, including for factural accuracy, by our editors and writers, and always draws from multiple primary and secondary sources when available to create our stories and articles.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
