Blockchain investigator ZachXBT has revealed that Sahil Arora, a known promoter of celebrity-themed memecoins, has likely earned approximately $3 million this year from his ventures, contrary to earlier reports suggesting $30 million.
In an August 14 post on X, ZachXBT clarified that the figures initially provided by blockchain data platform Bubblemaps were incorrect. Bubblemaps had reportedly overstated Arora’s earnings by mistakenly associating a Poloniex exchange wallet with Arora, thus inflating the amount.
Read more: ZKasino Users Report Delays in ETH Refunds Months After Claims Opened
Arora has faced numerous allegations of conducting social engineering scams and other fraudulent activities from various individuals, including celebrities like Australian rapper Iggy Azalea, Olympian Caitlyn Jenner and American rapper Rich the Kid.
Arora is accused of acting as a middleman by launching tokens using celebrity identities, sometimes without their consent and persuading them to promote these tokens on social media with promises of significant financial gain. Subsequently, he allegedly sold off his own substantial holdings, which led to a drop in token value by removing liquidity.
On July 4, Arora’s official X account, “@Habibi_Comm,” was banned for violating the platform’s terms. Despite this, he has reportedly maintained multiple accounts on X and continues to engage followers through a new account shared on his Telegram channel.
Arora’s activities have also involved falsely promoting a partnership with the crypto exchange BingX, which the exchange denied. Recently, he promoted another memecoin based on rapper Offset, who has also accused him of fraud.
Cre: cointelegraph
I’m Jessi Lee, currently living in Singapore. I am currently working as a trader for AZCoin company, with 5 years of experience in the cryptocurrency market, I hope to bring you useful information and knowledge about virtual currency investment.
Email: [email protected]
