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Alleged Scammer Raises $300,000 with Iggy Azalea Memecoin Amid Celebrity Accusations

Alleged serial scammer Sahil Arora has raised over $300,000 in a token presale using the name of Australian musician Iggy Azalea for a new celebrity memecoin.

On Tuesday, posts from Azalea’s X account distanced her from Arora’s presale, mentioning a planned legitimate crypto project.

“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 said in a now-deleted post on X.

The Australian rapper reportedly quit Twitter last year to escape “bad vibes” and announced a hiatus from the platform in 2015.

Azalea’s brand is now among the growing list of public figures linked to memecoins through some form of association with Arora.

American rapper “Rich the Kid” (Dimitri Leslie Roger) accused Arora of hacking his X account to promote the “RICH” token.

Olympic medalist Caitlyn Jenner also claimed Arora scammed her during her token launch, which reached over $40 million in market capitalization since May 27, according to Dexscreener.

Jenner’s token lost about 50% of its peak market cap by May 28.

This week, Arora’s alleged illicit activities are drawing public attention due to his involvement in celebrity memecoin projects.

He has been accused of several scams, including Avalanche-based rug pulls, which reportedly earned him small amounts in stolen fees.

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A Telegram channel details a recent token launch campaign where participants accuse Arora of conducting a rug pull.

An investor in that project, speaking to Cointelegraph anonymously, said that the liquidity was removed within five minutes of the coin’s launch.

“If I can remember vividly, I don’t think he got more than 6-8 AVAX for $RICH,” the investor said.

Arora is also accused of masterminding an alleged rug pull tied to former NBA star Dwight Howard.

Arora denies his campaigns are scams, claiming people “couldn’t time right entries so they got burned.”

“Tons of people make big from my launches,” Arora told Cointelegraph. “The few that don’t become haters.”

A 2017 article by the Times of India noted that Arora dropped out of Pathways School to launch a taxi application. He has since founded numerous businesses, including ZelaaPayAE and Habibi.

A former contractor for ZelaaPayAE claimed Arora failed to pay 800 British pounds until threatened with being reported to authorities.

In 2017, Vijay Shekhar Sharma, founder of PayTM, accused Arora of identity theft.

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Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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