A memecoin linked to Australian musician Iggy Azalea has raised over $300,000 in a presale organized by alleged serial scammer Sahil Arora.
Despite this, Azalea has distanced herself from Arora’s project. Posts from her X account on Tuesday clarified that while she had considered creating a legitimate coin, Arora proceeded with the presale without her consent.
“Basically, I was interested in making a legit coin with utility but Sahil tried it n thought I wouldn’t see his weirdo lil presale telegram shit,”
Azalea’s account stated in a now-deleted post on X.
Azalea reportedly left Twitter last year to escape negativity, having previously announced a hiatus from the platform in 2015.
Azalea’s case adds her to the list of celebrities connected to memecoins and Arora. American rapper Rich the Kid (Dimitri Leslie Roger) accused Arora of hacking his X account to promote the “RICH” token.
Similarly, Olympic medalist Caitlyn Jenner claimed Arora scammed her during her token launch, which saw its market capitalization peak at over $40 million before losing about 50% of its value by 9:30 am UTC, May 28, according to Dexscreener data.
Arora’s involvement in these projects has drawn significant public attention due to accusations of various scams, including Avalanche-based rug pulls. Reports suggest these scams have earned him modest amounts in stolen fees.
A Telegram channel dedicated to exposing such scams details a recent incident where investors accused Arora of conducting a rug pull during a token launch.
Arora is also suspected of orchestrating a rug pull involving former NBA star Dwight Howard. His alleged fraudulent activities continue to spotlight the risks associated with celebrity-endorsed memecoins.
A 2017 article by the Times of India reported that Arora left Pathways School, an international institution, to launch a taxi app. Since then, he has launched several ventures, including the payments project ZelaaPayAE and the influencer platform Habibi.
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