- Crypto promoter Sahil Arora teased an Iggy Azalea meme coin called IGGY and collected $380,000 in a presale, but Azalea claims she is not involved with him
- Azalea launched her own Solana token called MOTHER, separate from Arora’s efforts
- Arora previously worked with Caitlyn Jenner on her JENNER meme coin, which led to Jenner accusing Arora of owing her money
An Australian rapper has become embroiled in a cryptocurrency controversy involving a meme coin promoter who allegedly scammed people out of hundreds of thousands of dollars.
Promoter Quickly Moves from Caitlyn Jenner to Iggy Azalea
After helping Caitlyn Jenner launch a Solana meme coin and allegedly stealing lots of money from her, crypto promoter Sahil Arora quickly moved onto rapper Iggy Azalea as his next celebrity partner.
Arora teased launching an Iggy Azalea coin through his Telegram group and opened up a token presale, taking in over $380,000 worth of Solana. However, those who participated claim they haven’t received any tokens in return.
Confusion Around Competing Iggy Azalea Tokens
Initially, Arora claimed Azalea would be doing a Twitter Spaces with him upon hitting a $10 million market cap. However, Azalea instead opted to launch her own token called MOTHER without collaborating with Arora.
Azalea slammed Arora on Twitter, stating “Don’t believe the bullshit” and that she wasn’t working with him. In response, Arora changed the token airdrop terms for those who paid into his IGGY presale.
Azalea’s MOTHER token quickly gained traction, while Arora’s competing IGGY token crashed over 99% upon launch. Azalea explained in a Twitter Spaces that she declined to work with Arora after researching his background.
Arora’s Controversial History
This isn’t the first time Arora has been involved in controversy around meme coin projects. He previously worked with Caitlyn Jenner to launch her JENNER token before she publicly claimed he owed her lots of money and went silent.
Research also shows celebrity-backed crypto projects are significantly more likely to be scams. Azalea, however, has been praised for seeming to genuinely understand the crypto space.
Arora continues to promote token projects amid backlash while Azalea’s MOTHER token has charted huge gains. But research warns most celebrity-backed tokens end up worthless despite early hype.
