Alleged Rug Pulls by Sahil Arora Prompt WeCare Foundation’s Support


The WeCare Foundation is extending assistance to victims impacted by Sahil Arora, who is alleged to be the mastermind behind various pump and dump schemes in recent days.

Saad Kassis Mohamed, CEO of the foundation, stated that they would provide legal and financial aid to individuals affected by Arora’s recent rug pulls.

“As we’ve noticed a rise in the number of people affected by deceptive activities in the cryptocurrency sphere… Our initiative is aimed at bridging this gap by offering a platform for collective action, legal guidance, and emotional support. This will empower victims to pursue justice and reclaim their losses,” Mohamed mentioned in an interview with crypto.news.

Following Sahil Arora’s involvement in promoting multiple celebrity-themed memecoins, WeCare Foundation has taken action. Arora, an Indian national, has been acting as an intermediary for celebrities and taking advantage of their limited experience in the web3 space.

Arora’s actions included the launch and promotion of the “RICH” token by gaining unauthorized access to American rapper “Rich the Kid’s” X account.

Subsequently, he proceeded to introduce “JENNER,” an SOL-based memecoin on pump.fun, themed after American media personality Caitlyn Jenner. Additionally, he orchestrated a token presale under false pretenses, raising $300,000 by posing as Australian musician Iggy Azalea.

Shortly after their launches, all the mentioned tokens experienced significant price crashes, leading to Arora benefiting financially. The celebrities associated with these tokens have since disassociated themselves from any connections or involvement with Arora, the accused scammer.

Investors who were drawn in by the hype surrounding these celebrity tokens now face limited options and substantial financial losses.

WeCare intends to address this issue by leveraging its network within the financial and legal realms to support affected individuals.

“We’ll also partner with key figures and influencers in the industry to spread awareness and extend our support to a broader audience,” Mohamed further stated.

The foundation is implementing a rigorous verification process to ensure that assistance reaches those most in need. Mohamed explained that this process would entail verifying investment records and communication histories.

“We aim to establish a secure and reliable system that emphasizes transparency and honesty, guaranteeing that our resources go to individuals who genuinely require assistance.”

The foundation encourages affected individuals to contact them directly through social media to request support.

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