Support for Victims of Cryptocurrency Scams

The WeCare Foundation is dedicated to aiding individuals affected by the alleged activities of Sahil Arora, who is suspected of orchestrating a series of pump and dump schemes in recent times.

As stated by the CEO of the foundation, Saad Kassis Mohamed, the organization is committed to providing legal and financial support to those impacted by Arora's recent rug pulls.

The foundation's initiative aims to address the growing number of individuals falling victim to fraudulent practices in the cryptocurrency realm. By offering a platform for collective action, legal aid, and emotional backing, the foundation empowers victims to pursue justice and reclaim their financial losses, as outlined by Mohamed in statements to crypto.news.

WeCare's intervention follows the promotion of numerous celebrity-themed memecoins by Arora, an individual of Indian nationality. Exploiting celebrities' unfamiliarity with web3 technologies, Arora acted as a middleman in these schemes.

Arora was involved in the launch and promotion of tokens like 'RICH,' associated with American rapper 'Rich the Kid,' and 'JENNER,' a SOL-based meme coin inspired by American media personality Caitlyn Jenner. By initiating a token presale allegedly linked to Australian musician Iggy Azalea, Arora managed to raise approximately $300,000 before these tokens experienced swift price collapses, leading to Arora pocketing profits. The implicated celebrities have distanced themselves from any connection to Arora's activities.

Investors who participated in the hype surrounding these celebrity tokens now face substantial losses with limited avenues for recourse.

WeCare, in partnership with industry leaders and influencers, endeavors to alleviate the repercussions of these scams by leveraging its connections in the financial and legal realms to support affected parties.

To ensure targeted support, the foundation plans to implement a strict verification process, scrutinizing details such as investment records and communication backgrounds. Mohamed emphasized the need to establish a secure and transparent framework that prioritizes integrity and transparency to ensure resources are allocated to those truly in need.

The foundation encourages victims to directly contact them through official channels for assistance, stressing the importance of verifying requests to effectively provide aid.