Everyone knows celebrity coins, with the most famous being the one issued by former U.S. President Trump. Most players in the crypto world might not have heard of Sahil Arora. But this 'marketing genius' leveraged celebrity endorsements and memecoin tricks to siphon off over $30 million in the primary market, leaving KOLs and retail investors in despair!

Recently, he was silenced on Platform X, and the story behind it is like a crypto 'fraud serial'. Today, I'll dig into this matter and help you see the tricks! Are you ready? Let's get started!

1. From 'Celebrity Promoter' to 'Fraud Mastermind': Arora's Rise to Fame

This guy Arora is no newcomer. In 2021, he launched the FDO token with SouljaBoy's endorsement, claiming to be the 'first NFT album'. Sounds impressive, right? But what happened? The project collapsed, and retail investors suffered huge losses!

After that, he launched ZelaaPayAE (crypto debit card) and Zeela NFT (celebrity NFT market), using the same tricks: pulling KOLs to endorse, creating FOMO (fear of missing out), then 'pump and dump', leaving retail investors holding the bag at high prices.

  • Trick Analysis: Arora is good at finding celebrity teams that know nothing about crypto, leveraging their traffic to issue tokens; once the price is inflated, he quickly cashes out, and the project directly 'rug pulls'.

  • Victims: From SouljaBoy to Rich The Kid, celebrities are used as tools, while retail investors are the real 'leeks'.

This set of strategies was repeatedly successful during the NFT craze, but the memecoin era has given him a bigger stage. Have you seen similar tricks?

2. The memecoin frenzy: Arora's 'Peak Operation'

In 2024, the memecoin craze swept the crypto world, with platforms like PumpFun making token issuance as simple as posting on social media. Arora sensed the opportunity and upgraded his fraud script. This time, he targeted bigger celebrities: Caitlyn Jenner and Iggy Azalea among others.

This combination of 'celebrity + memecoin' is simply a nightmare for retail investors. Below is said to be a list of celebrities who have collaborated with Arora and their quotes.

3. Celebrity Backlash and Platform Ban: Arora's 'End'?

Arora's operations were too arrogant and finally hit a wall. Caitlyn Jenner and Iggy Azalea publicly diss him:

  • Jenner clarified: Her team was fooled by Arora, and her account was not hacked, but was used for promotion.

  • Azalea cried injustice: She only spoke to Arora once on the phone and was never involved in his memecoin plans.

The celebrities' breakaway exposed Arora's true face, and Platform X took action, directly suspending his account. Arora also released a video, publicly apologizing to the celebrities he deceived and promising to 'do good in the future'. But how can $30 million in losses and the tarnished reputation of celebrities be erased with a few words of apology?

  • Crypto community reaction: Trust in Arora has basically hit rock bottom, and many are calling for stricter regulations.

  • Investigation ongoing: Arora is currently the subject of multiple investigations and may face legal accountability in the future.

This operation has dug a big pit for himself. Do you think he has a chance to turn things around?

4. Retail Investor Self-Protection Guide: Don't be a 'Leek' anymore!

Arora's case has sounded the alarm for us: the crypto world is deep, and celebrity endorsements may not be reliable! President Van summarized several tips to help you protect your wallet:

  • Check project background: Token whitepapers, team information, contract code, not one can be missed; use Etherscan to check token distribution and avoid projects with 'excessive team holdings'.

  • Beware of FOMO: Coins promoted by celebrities often come with built-in traffic, but don't be blinded by the 'get rich quick' hype; pay attention to community discussions, like real-time feedback on X.

  • Small-scale testing: Want to gain? First, test with a small position, don't go all-in; HODL should also choose reliable projects.

  • Stay away from 'quick money': Projects that engage in pump and dump often have short lifespans, and the cost of making quick money could be losing everything.

Conclusion: Keep your eyes open, the crypto world is not just about 'cutting leeks'!

Sahil Arora's story is like a mirror of the crypto world: it reflects both greed and tricks, while reminding us to stay rational. Celebrity tokens sound appealing, but they may hide carefully designed traps. The ban on Platform X and the celebrities' breakaway have shaken Arora's 'fraud empire', but similar tricks in the crypto world are unlikely to disappear.

As a part of the crypto world, we must cultivate a keen eye to seize opportunities and avoid pitfalls. I will continue to share practical tips with everyone, so we can carve our own path in this 'jungle'! What do you think about Arora's situation? Have you ever been deceived by a memecoin? Come to the comments section to discuss, let's review and grow together!