Iggy Azalea has distanced herself from the $300k memecoin scam.
Accused serial fraudster Sahil Arora's new celebrity memecoin has raised over $300,000 in pre-sale tokens bearing the name of Australian musician Iggy Azalea.
Posts tagged Azalea X excluded the artist from the Aurora pre-sale on Tuesday and added that a crypto project was planned.
“Originally I was interested in making a legit coin with utility but I thought Sahil tried it n didn't see his weird telegram noise,” Azalea's account on X said in a now-deleted post.
The Australian rapper reportedly quit Twitter last year to escape “bad feelings.” She also announced her retirement from the stage in 2015.
The Azalea brand joins a growing list of public figures entering the world of memecoins through a relationship with Aurora.
American rapper “Rich The Kid” (Dmitri Leslie Roger) has publicly accused Aurora of hacking his X account to promote the recently launched “RICH” token.
Meanwhile, Olympic medalist Caitlyn Jenner said Aurora cheated during the launch of her own token, which has reached more than $40 million in market capitalization since its May 27 launch, according to data from DexScreener.
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The Jenner token has lost nearly 50% of its peak market value since 9:30 AM UTC, May 28.
This week, Arora's illegal activities are attracting public attention due to his involvement in popular memecoin projects. He was accused of several scams, including an Avalanche-based carpet drag.
A Telegram channel details a recent token launch campaign in which participants accuse Aurora of pulling the rug, a common exit scam in the memecoin scene.
An investor in that project, who spoke to Cointelegraph on condition of anonymity, told Cointelegraph that liquidity was drained within five minutes of the coin's launch.
“I don't think he got 6-8 AVAX per $RICH if I can remember clearly,” the investor said.
Arora is also accused of being the mastermind behind the carpet-dragging involving former National Basketball Association star Dwight Howard.
But Arora claims that Avalanche's campaigns are scams, saying, “People are getting burned because they can't afford the time to sign up.”
“A lot of people make a big deal about my startup,” Arora told Cointelegraph. “Few Don't Hate”
According to a 2017 Times of India article, Arora dropped out of Pathways School International to start a taxi app.
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He has founded several businesses including payment project ZelaaPayAE and influencer platform Habibi.
A former ZelapiaA contractor, who spoke to Cointelegraph on condition of anonymity, said he had made one order for Arora but added it to the website.
The contractor said Arora could not pay the £800 he owed until he threatened to report it to the authorities.
Also In 2017, the founder of Indian payments giant PayTM, Vijay Shekhar Sharma, publicly accused Arora of identity theft.
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