Reality TV star and former Olympic athlete Caitlyn Jenner revealed on Monday she was “scammed� by alleged hacker Sahil Arora following the release of her JENNER memecoin Sunday.
“F-CK SAHIL,� Jenner wrote in a post to X late Monday. “He scammed us! BIG TIME!�
Caitlyn Jenner Claims Sahil Arora Scammed Her Following Token Launch
According to crypto sleuth Roxo, purported scammer Sahil Arora was behind the launch of JENNER and operated as a “middleman� between the token and Jenner herself.
if anyone wants the TLDR on the @Caitlyn_Jenner situation here it is
She was never hacked, Her team was socially engineered by a guy named Sahil.
He was the “middleman” and his role was to launch the token for Caitlyn as the team didn’t know anything about crypto.
after… pic.twitter.com/yZloKHlon6
— Roxo (@CryptoRoxo) May 27, 2024
Following Jenner’s promotion of the coin, Roxo claims that Arora “dumped all the tokens from the deployer wallet and more he had sniped on burner wallets.�
“The team was clearly tricked and have no idea they’ve been swindled it appears,� Roxo stated.
However, Jenner is still actively promoting the memecoin despite the alleged fraud, with the token’s market cap hovering around $22 million Tuesday morning.
“That doesn’t mean I won’t be investing and continuing to promote $Jenner – but Sahil appears to be fully out, at the moment,� she said.
Alleged Crypto Scammer Behind JENNER and RICH Memecoin Launches
Several celebrities have been penalized by the U.S. Securities and Exchange Commission (SEC) for illegally promoting cryptocurrencies, prompting concerns from X users that Jenner had been hacked when the memecoin was launched Sunday.
“Her account has not been hacked,� the former Olympian’s assistant Sophia Hutchins said in a video posted to X.
“Yes, this is for real,� Jenner claimed in another video following the token’s release. “Get involved. It’s going to be very good. I’m very excited about it.�
American rapper Rich The Kid also launched a token with Arora called RICH using Solana memecoin creator Pump.fun over the weekend before claiming Arora had scammed him in posts on X.
Stay tuned for the official RTK token ! pic.twitter.com/5fvyeaM5wL
— Rich The Kid (@richthekid) May 27, 2024
“This guy pretty much made a pump-and-dump and dumped all the money into his account and blocked me,� the rapper said in a video posted to X Monday.
For context, a pump-and-dump scheme occurs when a scammer fraudulently promotes a token, only to sell off their shares when the coin hits an inflated price, causing its value to plummet.
“I bet he won’t be launching many celebs coins again based on the conversations I’ve been having,� Jenner said on Monday.
In an interview with Decrypt, Arora reportedly denied any scam allegations, calling them “dumb B.S.�
It’s unclear what legal repercussions Arora, Jenner, and Rich The Kid may face for promoting the memecoins.
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