Memecoins
Celebrity Coin Promoter Sahil Arora Banned From X Over Scam Allegations
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Sahil Arora, a celebrity memecoin promoter, has been banned from 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 her alleged involvement in these scams.
According to the charges, Arora acted as a middleman, launching tokens in the names of celebrities, having them promote the tokens, and then dumping his own holdings to withdraw liquidity, causing prices to plummet. This is a common risk in the largely unregulated memecoin market.
One of these tokens, JENNER, reportedly reached a market capitalization of $43 million within 24 hours of its launch, but then fell sharply. The token’s market capitalization has since abandoned at around $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 used the token.
https://x.com/sahilbuilds/status/1797776925840085468
American rapper Rich the Kid too claims on
Another incident shows Arora allegedly posting fake screenshots that implied some degree of involvement in the launch of IGGY, a coin inspired by Australian rapper Iggy Azalea. The rapper later replied to claims and launched its own token, MOTHERon Solana.
According to a report from The Block, the account responded to queries and released the following statement:
“[T]hey, they hate what they can’t create, they try every day to silence me but nothing will really make me stop. it just gives me more power to do some crazy, epic shit and I have a lot more big moves coming to shake up the space.
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