Arora

Memecoin

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 A memecoin linked to Australian musician Iggy Azalea has<a style="color: #0000ff;" href="https://solscan.io/account/AVjzMBxBtvoGFdJ55JhE6sTLiyVPAV3EZ3kzFn6FNxdV?page=3"> raised</a> over $300,000 in a presale organized by alleged serial scammer Sahil Arora. Despite this, Azalea has<a style="color: #0000ff;" href="https://twitter.com/IGGYAZALEA/status/1795282447736701361?t=U8jZ0D6vjuerzj9m2k1SyQ&amp;s=19"> distanced</a> 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. 
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<blockquote class="pullquote align-center">
 “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,” 
</blockquote> 
Azalea’s account stated in a now-deleted post on X. 
Azalea reportedly<a style="color: #0000ff;" href="https://torontosun.com/entertainment/celebrity/dumb-a-app-iggy-azalea-quits-twitter-to-escape-bad-vibes"> left</a> Twitter last year to escape negativity, having previously<a style="color: #0000ff;" href="https://www.msnbc.com/msnbc/iggy-azalea-quits-twitter-body-shaming-msna533511"> announced</a> 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)<a style="color: #0000ff;" href="https://twitter.com/richthekid/status/1795097857038389328?t=yFTXEINVv56WsWbYFlh2pA&amp;s=19"> accused</a> Arora of hacking his X account to promote the “RICH” token. 
Similarly, Olympic medalist Caitlyn Jenner<a style="color: #0000ff;" href="https://twitter.com/Caitlyn_Jenner/status/1795269306693075404?t=54L3dIaqmidxTfp87LnvTw&amp;s=19"> claimed</a> 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<a style="color: #0000ff;" href="https://dexscreener.com/solana/crr7jdt5lxt6jcrqwqnb2epf1sntn3jxpv3kgdirpatx?__cf_chl_rt_tk=G9d7OnSzQft1gVM_gpSDdCbfxJ1icr40J_xw.VIXyhM-1716898416-0.0.1.1-1706"> Dexscreener data</a>. 
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<a style="color: #0000ff;" href="https://t.me/richwifavax"> Telegram channel</a> 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<a style="color: #0000ff;" href="https://twitter.com/Dendorion/status/1752592937618219133?t=4Av93_eM-kX_M3_iZhgWog&amp;s=19"> suspected</a> 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<a style="color: #0000ff;" href="https://m.economictimes.com/markets/expert-view/market-leadership-stays-with-psus-stay-invested-as-the-best-is-yet-to-come-ramesh-damani/articleshow/106174564.cms"> article</a> 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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The post <a href="https://defi-planet.com/2024/05/iggy-azalea-rejects-alleged-scammers-300k-memecoin/">Iggy Azalea Rejects Alleged Scammer’s $300K Memecoin</a> appeared first on <a href="https://defi-planet.com">DeFi Planet</a>.

Iggy Azalea Rejects Alleged Scammer’s $300K Memecoin

DeFi Planet

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