In a shocking twist, Australian musician Iggy Azalea has distanced herself from a new memecoin launched by alleged scammer Sahil Arora, which raised over $300,000 in a token presale. Azalea took to social media to clarify her non-involvement, stating her initial interest in creating a legitimate coin with utility.
In a now-deleted post, Azalea’s account stated: “I was interested in making a legit coin with utility, but Sahil tried it and thought I wouldn’t see his weirdo presale on Telegram.” This distancing comes despite earlier plans for a crypto project under her name. The rapper, who has taken breaks from social media due to “bad vibes,” made it clear she had no part in Arora’s scheme.
Azalea’s case isn’t isolated. American rapper Rich the Kid has also accused Arora of hacking his account to promote the “RICH” token. Similarly, Olympic medalist Caitlyn Jenner claimed Arora scammed her during her token launch, which initially surged to over $40 million before losing about 50% of its value.
Arora is no stranger to controversy. He has been accused of multiple scams, including Avalanche-based rug pulls. A recent token launch saw liquidity pulled within minutes, with an investor claiming Arora made off with a small profit in AVAX.
Despite these allegations, Arora denies wrongdoing. He told Cointelegraph, “Tons of people make big from my launches. The few that don’t become haters.”
Arora’s dubious activities date back to his dropout from Pathways School in 2017 to start a taxi application. He later founded various businesses, including ZelaaPayAE and Habibi. Accusations against him include non-payment for services and identity theft, with Indian payments giant PayTM’s founder publicly accusing him of the latter in 2017.
As more celebrities fall victim to crypto scams, Azalea’s public disassociation from Arora’s project highlights the ongoing risks in the cryptocurrency world. The scandal serves as a cautionary tale for public figures and investors alike.