• Dubai-based Sahil Arora accused of manipulating celebrity-backed crypto tokens.
• Arora allegedly made $30 million by dumping tokens after celebrity promotions.
• Legal gray areas and celebrity complicity complicate enforcement.

Sahil Arora, an Indian-born Dubai resident, has come under fire for allegedly orchestrating a multi-million dollar cryptocurrency scheme involving high-profile celebrities. According to a recent investigation by Bubblemaps, Arora capitalized on the star power of figures like Floyd Mayweather, Davido, Caitlyn Jenner, and Jason Derulo to promote various crypto tokens. Most of these tokens eventually plummeted to zero, leaving investors in the lurch.

The series of tweets made on X revealed that Arora’s involvement in cryptocurrency began in 2017 when he was just 18. However, he began to gain traction between 2020 and 2023, as he launched a series of projects, including ZelaaPayAE, a crypto debit card, and ZelaaNFT, an NFT marketplace. While these projects ultimately failed, Arora reportedly made substantial profits, which fueled his appetite for quick gains in the crypto market.

Furthermore, the investigation sheds light on Arora’s us…

The post Investigation Uncovers $30M Crypto Fraud Tied to Celebrity Promotions appeared first on Coin Edition.

• Dubai-based Sahil Arora accused of manipulating celebrity-backed crypto tokens.
• Arora allegedly made $30 million by dumping tokens after celebrity promotions.
• Legal gray areas and celebrity complicity complicate enforcement.

Sahil Arora, an Indian-born Dubai resident, has come under fire for allegedly orchestrating a multi-million dollar cryptocurrency scheme involving high-profile celebrities. According to a recent investigation by Bubblemaps, Arora capitalized on the star power of figures like Floyd Mayweather, Davido, Caitlyn Jenner, and Jason Derulo to promote various crypto tokens. Most of these tokens eventually plummeted to zero, leaving investors in the lurch.

The series of tweets made on X revealed that Arora’s involvement in cryptocurrency began in 2017 when he was just 18. However, he began to gain traction between 2020 and 2023, as he launched a series of projects, including ZelaaPayAE, a crypto debit card, and ZelaaNFT, an NFT marketplace. While these projects ultimately failed, Arora reportedly made substantial profits, which fueled his appetite for quick gains in the crypto market.

Furthermore, the investigation sheds light on Arora’s us…

The post Investigation Uncovers $30M Crypto Fraud Tied to Celebrity Promotions appeared first on Coin Edition.