Token

Arora

ZachXBT

Gains

In 2024, Sahil Arora, a Dubai-based investor and promoter, executed a series of high-profile token schemes involving celebrities.&nbsp;
Leveraging his extensive Instagram following and connections, Arora reportedly&nbsp;<a style="text-decoration:none" href="https://x.com/bubblemaps/status/1823752446801228060" rel="noopener noreferrer nofollow">generated</a> substantial profits through what is commonly known as pump-and-dump schemes.&nbsp;
&nbsp;
Despite a recent Bubblemaps’ claim of $30 million in Arora’s earnings, independent blockchain sleuth ZachXBT&nbsp;<a style="text-decoration:none" href="https://x.com/zachxbt/status/1823760586997686388" rel="noopener noreferrer nofollow">disputes</a> this figure, suggesting a more modest profit million.
<div>
 <blockquote class="twitter-tweet">
 Sorry the math for this seems incorrect there is no way Sahil made $26M check the liquidity on these coins. Would estimate he made &lt;$5M at most and likely only $2-3M. The Celeb meta also died off extremely quickly. <a href="https://t.co/cFzMSVLLRg" rel="noopener noreferrer nofollow">pic.twitter.com/cFzMSVLLRg</a>— ZachXBT (@zachxbt) <a href="https://twitter.com/zachxbt/status/1823760586997686388?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 14, 2024</a>
 </blockquote> The Strategy Behind the Success
</div>
According to reports, Arora issued tokens tied to well-known figures such as&nbsp;<a style="text-decoration:none" href="https://bsc.news/post/caitlyn-jenner-launches-12-memecoins-in-4-days-profits-400-k" rel="noopener noreferrer nofollow">Caitlyn Jenner</a>, Floyd Mayweather, Amber Rose, Sunny Leone, and Iggy Azalea.&nbsp;
&nbsp;
Using a platform called Pump Fun, he orchestrated a campaign that included direct messages to celebrities, offering them significant payments in exchange for promoting the token.
&nbsp;
The core of Arora's scheme involved manipulating the token's price through hype and celebrity endorsements.&nbsp;
&nbsp;
Once the token was launched and its price was artificially inflated through celebrity tweets, Arora, who held a substantial portion of the token’s supply, sold off his holdings. This rapid selling, often executed immediately after the promotional push, caused the token’s value to plummet, leaving other investors with worthless assets.
&nbsp;
Bubblemaps has traced over 40 crypto addresses associated with Arora. These addresses were used to manage and manipulate the token supply. Typically, Arora held between 25-40% of the token’s total supply in various addresses.&nbsp;
&nbsp;
After the token launch, he consolidated these holdings and moved the proceeds to a main wallet, identified as 7Ci23i82. Funds were then regularly transferred to centralized exchanges.
<h2 dir="ltr" id="span-span-arora-s-financial-gains-and-discrepancies-span-span">Arora’s Financial Gains and Discrepancies</h2>
Arora’s methods were lucrative. Reports from Bubblemaps indicate that he earned around $30 million through these schemes in 2024. The breakdown of earnings, however, shows considerable monthly fluctuations: $3 million in January, $1.8 million in February, $3.2 million in March, $2.5 million in April, $4.8 million in May, $2.5 million in June, $2 million in July, and a staggering $6.6 million in August.
&nbsp;
However, ZachXBT has criticized Bubblemaps’ calculations. According to ZachXBT, the figures reported by Bubblemaps were inflated due to an error that involved incorrectly attributing a Poloniex wallet address to Arora.&nbsp;
&nbsp;
ZachXBT’s revised estimate suggests that Arora’s actual earnings from these schemes were likely between $2 and $3 million, significantly lower than previously reported.
&nbsp;
Celebrities involved in these schemes often face scrutiny and legal issues. While some promote tokens for financial gain, the true value and legitimacy of these projects are frequently questionable.&nbsp;

How Sahil Arora Netted $3M with Celeb Token Pump-and-Dump Schemes

Table of Contents

BSCN

Autres articles publiés le 22 août 2024

G-SHOCK and STEPN GO Announce Limited Edition Co-Branded Genesis NFT Sneakers (22 Aug)

Spot Bitcoin ETFs See 5th Straight Day of $39M in Positive Flows

Binance Resumes Full Operations in India After Securing FIU Registration and Paying $2.25M Fine

Only 3% of traders on Pump.Fun have made more than $1000

Crypto Reacts to Fed's Market Signal: Details

2024’s 4 Best Crypto Presales: Boost Your Crypto Portfolio Early!

Join our free newsletter for daily crypto updates!