A recently launched celebrity memecoin with ties to alleged scam artist Sahil Arora has garnered over $300,000 in a presale featuring Australian singer Iggy Azalea. Azalea’s official account distanced her from Arora’s presale, indicating plans for a legitimate crypto project. Azalea, known for withdrawing from social media to avoid negativity, including quitting Twitter due to 'bad vibes,' now finds herself associated with Arora’s memecoin initiative.

Arora’s involvements have extended to public figures like 'Rich the Kid' and Caitlyn Jenner, both accusing him of unethical conduct. 'Rich the Kid' alleged that Arora hacked to promote the 'RICH' token, while Jenner claimed she was scammed during her token launch, despite its initial market success. However, the token faced a significant market cap decrease subsequently. Arora’s alleged participation in scams, particularly rug pulls within the memecoin sphere, has brought his practices under scrutiny.

Recent revelations from a Telegram channel shed light on accusations of Arora orchestrating rug pulls during token launches. Investors shared experiences of instantaneous liquidity disappearance post-launch leading to financial losses. Arora also faced allegations related to a rug pull event involving former NBA star Dwight Howard. Although denying scam accusations, Arora attributed the backlash to mistimed entries, emphasizing the profitability of his initiatives and dismissing critics as 'haters.'

Arora’s entrepreneurial journey commenced with leaving Pathways School to create a taxi application in 2017. Subsequently, he established various ventures, including ZelaaPayAE and Habibi. An ex-contractor for ZelaaPayAE recounted payment disputes and threats upon requesting overdue payments. Accusations of identity theft against Arora surfaced in 2017, highlighted by Vijay Shekhar Sharma, the founder of PayTM. The controversies surrounding Arora’s history and alleged fraudulent activities raise concerns regarding the proliferation of celebrity memecoins associated with his projects.