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Home»ADOPTION NEWS»X Bans Sahil Arora, Suspected Celebrity Memecoin Fraudster
ADOPTION NEWS

X Bans Sahil Arora, Suspected Celebrity Memecoin Fraudster

By Crypto FlexsJune 4, 20243 Mins Read
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X Bans Sahil Arora, Suspected Celebrity Memecoin Fraudster
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Popular memecoin promoter Sahil Arora (@Habibi_Comm) has been banned from social media platform Caitlyn Jenner And Iggy Azalea committed a “pump and dump” scheme. recent rise From celebrity-themed meme coins.

“That person scammed us! Big time!” Jenner wrote about The scam reportedly involved Arora acting as an intermediary, launching tokens on Jenner’s behalf, having Jenner promote them, and then dumping the tokens he owned, withdrawing liquidity and causing the price to plummet. Memecoin market.

The JENNER token rose dramatically in 24 hours, reaching a market capitalization of $43 million, but then fell sharply. The market capitalization of the token at the time of issuance was approximately 5 million dollarsAccording to data from Dexscreener.

American rapper Rich the Kid also went to He claimed that his account was “hacked” to promote the coin “by Sahil” and that he “made a pump, dumped all the money into his account and blocked me”.

In another incident, Arora reportedly posted fake screenshots suggesting his involvement in the launch of a memecoin called IGGY for Australian rapper Iggy Azalea. Instead, Azalea launched her own token. motherAnd called Arora. series of tweets.

“Don’t believe all the nonsense, fake screenshots and all the rest… Sahil baby, take the L with you.” Azalea said.

The Block reached out to @sahilbuilds, another X account shared on Arora’s Instagram and Telegram pages, for comment on the allegations and his account’s ban.

“(T)hey hate what they can’t create. They try to shut me down every day but nothing actually makes me quit. This gives me more power to do crazy things and have more big moves to shake up the space,” the account wrote in response to a direct message to X.

When asked if Jenner’s claims were false, they responded, “Yes. If I hadn’t brought her in and placed her Jenner, she wouldn’t be here in the first place.”

The Memecoin market has grown explosively in recent months as barriers to entry continue to decrease. five hundred thousand According to data compiled by Solana, tokens are being created only during the month of May. block pro. Unfortunately, bad actors and scammers are also part of the memecoin landscape.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

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