A fraudulent crypto manager deceives investors out of $380K using a phony Iggy Azalea meme coin – Decrypt.

After helping Caitlyn Jenner launch a meme coin and allegedly stealing “lots of money” from her, as Jenner claimed, crypto promoter Sahil Arora quickly moved onto a new celebrity subject: rapper Iggy Azalea.

Azalea decided to create her own token rather than collaborating with Arora, publicly criticizing the promoter through a series of tweets on Tuesday. Despite this, it seems that Arora was able to raise $380,000 in a presale for his own Iggy Azalea token. However, as of now, the token has not been distributed to those who invested in it.

Arora used his XO Telegram channel to hint that Iggy Azalea would be teaming up with him for a meme coin release on Pump.fun. He then shared an address and encouraged individuals to send SOL in order to participate in the presale for the upcoming token launch.

At first, the presale was limited to 100 wallets, but the number was increased to 700 and then 1,000. As of now, the wallet from the presale contains more than $380,000 worth of cryptocurrency. However, some buyers have not yet received their tokens due to conflicting information regarding Azalea’s MOTHER token.

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