Sahil Arora, a prominent figure in the promotion of celebrity-themed memecoins, has been banned from the social media platform X following accusations of orchestrating “pump and dump” schemes.
The ban comes after several celebrities, including Caitlyn Jenner and Iggy Azalea, publicly accused Arora of manipulating token prices for personal gain.
The controversy unfolded when Jenner took to X to denounce Arora, accusing him of scamming her in a pump-and-dump scheme involving the JENNER token.
Allegedly, Arora coordinated with Jenner to launch the token, promoted it extensively, and then dumped his tokens to withdraw liquidity, causing the token’s value to plummet.
Similar accusations surfaced from American rapper Rich the Kid, who claimed his account was hacked to promote a coin associated with Arora.
In another instance, Arora allegedly fabricated screenshots to imply his involvement in launching a memecoin associated with Iggy Azalea.
Azalea swiftly debunked the claims and distanced herself from Arora’s alleged actions.
When approached for comment, Arora’s representative account on X remained defiant, dismissing the allegations and vowing to continue despite the ban.
Despite the backlash, Arora’s response suggested a determination to persist in his endeavours within the memecoin space.