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Sahil Arora’s alleged carpet attracts support from WeCare Foundation
The WeCare Foundation is trying to help the victims of Sahil Arora, the alleged mastermind behind a plethora of pumps and dumps in the last week.
According to the foundation’s CEO, Saad Kassis Mohamed, the organization will legally and financially support those affected by the recent Arora disaster. the carpet pulls.
“As we have observed, the growing number of individuals are being affected by deceptive schemes in the crypto space […] Our initiative aims to bridge this gap by providing a platform for collective action, legal assistance and emotional support, thus enabling victims to seek justice and recover their losses,” Mohamed told crypto.news.
WeCare’s move follows numerous celebrity-themed memecoins promoted by Arora, an Indian citizen. The alleged scammer acted as an intermediary for the celebrities and exploited their lack of experience with web3.
Arora launched and promoted the “RICH” token. via hacking X account of the American rapper “Rich the Kid”.
Then he moved on to launches JENNERa meme coin based on SOL on pump.fun, inspired by American media personality Caitlyn Jenner. She also raised $300,000 in a token pre-sale under the as Australian musician Iggy Azalea.
All of the tokens mentioned above saw their prices plummet within hours of launch, with Arora pocketing the profits. The celebrities also distanced themselves from any involvement with the alleged scammer.
Investors who rushed to capitalize on the hype around these celebrity tokens now find themselves with limited recourse and significant losses.
We worry aims to mitigate this problem by mobilizing the community through its connections in the financial and legal sectors.
“Additionally, we will partner with industry leaders and influencers to amplify our message and ensure widespread reach,” Mohamed added.
To ensure help is directed to those who truly need it, the foundation will employ a rigorous vetting process. According to Mohamed, the process would involve checking details such as investment records and communication history.
“Our goal is to create a safe and reliable system that prioritizes transparency and integrity, ensuring our resources are directed to those who truly need them.”
The foundation urged victims to contact the foundation directly via social media to request support.