Sahil Arora’s Controversial Crypto Ventures
Sahil Arora, known for his involvement with various high-profile celebrity-backed meme coins, has reportedly earned around $3 million this year, according to blockchain investigator ZachXBT. This figure sharply contrasts the earlier estimate of $30 million provided by the blockchain data platform Bubblemaps.
Who Is Sahil Arora?
Arora is an Indian entrepreneur currently residing in Dubai, who gained recognition for bringing celebrities such as Floyd Mayweather, Caitlyn Jenner, and Iggy Azalea into the cryptocurrency space. His journey in digital assets began in 2017 with the establishment of Vuzelaa Group in India, which aimed to deploy Bitcoin ATMs globally.
Between 2020 and 2023, Arora launched numerous crypto projects, including ZelaaPayAE and ZelaaNFT. Although these tokens ultimately did not succeed, he managed to generate quick profits, as noted by findings from Bubblemaps.
His strategy reached its height with the introduction of Pump.fun, a platform where he utilized his Instagram influence to persuade celebrities to promote his tokens in exchange for substantial payments. This platform quickly became a favored spot for retail investors to create and trade meme coins. Notably, Arora infamously offered Jason Derulo $200,000 to endorse a token, subsequently selling off his holdings shortly after the promotion, effectively using the star’s fanbase as exit liquidity.
The Legal Gray Area
Despite the significant financial losses incurred by thousands of fans, Arora’s actions exist within a complex legal gray area, making it difficult to pursue legal action against him. His approach of utilizing celebrity endorsements to boost token visibility before rapidly liquidating his assets has created significant challenges for potential litigation.
Bubblemaps indicated that even the involved celebrities are not pursuing legal recourse against Arora, in part due to their shared responsibility for the unsuccessful tokens. Their participation, often compensated with substantial fees, has indirectly contributed to the financial detriment experienced by investors. This shared accountability complicates efforts to hold Arora responsible and limits options for those seeking compensation.
Arora’s verified account on X, “@Habibi_Comm,” was suspended on July 4 for violating the platform’s regulations. Nevertheless, he is suspected of maintaining multiple accounts on X and has been guiding his followers to a new account through his Telegram channel.
