ZachXBT reveals Sahil Arora’s true memecoin earnings at $3M, not the inflated $30M initially reported by Bubblemaps.
Arora faces fraud accusations from celebrities, including Iggy Azalea and Caitlyn Jenner, for manipulating token promotions.
Despite being banned from X, Arora continues to use multiple accounts and Telegram to promote and dump tokens.
Sahil Arora, a prominent figure in memecoin, reportedly earned about $3 million this year from his celebrity token ventures. Independent blockchain investigator ZachXBT recently debunked inflated figures initially posted by Bubblemaps.
According to ZachXBT, the actual earnings from Arora’s memecoin launches were lower than the $30 million initially claimed. He estimates that Arora’s true earnings are closer to $2-3 million.
https://twitter.com/zachxbt/status/1823760586997686388
The discrepancy arose from an error by Bubblemaps, which mistakenly identified a Poloniex wallet as Arora's. This error led to an overestimation of his total earnings. ZachXBT highlighted that Bubblemaps had flagged an incorrect address, which artificially inflated the earnings figure.
Fraud Accusations from Celebrities
Arora, an Indian resident, has been accused of fraud multiple times. Rich the Kid, Caitlyn Jenner, and Iggy Azalea are among the celebrities who have openly claimed that Arora conned them with his memecoin schemes. Arora reportedly acted as an intermediary, launching tokens for celebrities without their consent. He then manipulated the market by convincing them to promote these tokens on social media.
After the promotion, Arora allegedly sold off his holdings, causing the token's value to collapse. This tactic allowed him to profit at the expense of investors and celebrities. His official social media account, “Habibi_Comm,” was banned by X on July 4 for violating the platform’s terms of service.
Questionable Associations and Ongoing Activities
Moreover, Arora’s association with crypto exchange BingX was also called into question. On July 3, he promoted a partnership with BingX, but the exchange denied any connection with him. This denial underscores the lack of legitimacy in some of Arora's claims.
Despite the ban on his official account, Arora is believed to be active on multiple X accounts. He continues to direct followers to new accounts via his Telegram channel. His daily activities on Pumpfun, where he quickly dumps tokens after promoting them, indicate a pattern of exploiting celebrity influence for financial gain.
Bubblemaps’ investigation revealed that Arora has launched numerous tokens, many of which have failed. His methods involve using a substantial portion of the token supply and rapidly selling it after a promotional push. This scheme has resulted in substantial earnings for Arora, though the legitimacy of his profits remains contentious.
The post Sahil Arora’s Memecoin Scheme Revealed: $3 Million Earnings Exposed appeared first on Crypto News Land.
