Sahil Arora’s alleged rug pulls prompt WeCare Foundation’s support

The
WeCare
Foundation
is
looking
to
help
the
victims
of
Sahil
Arora,
the
alleged
mastermind
behind
a
plethora
of
pump
and
dumps
over
the
past
week.

According
to
the
foundation’s
CEO,
Saad
Kassis
Mohamed,
the
organization
will
legally
and
financially
support
those
affected
by
Arora’s
recent

rug
pulls.

“As
we
observed
the
growing
number
of
individuals
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,
thereby
empowering
victims
to
seek
justice
and
recover
their
losses,”
Mohamed
told
crypto.news.

WeCare’s
move
follows
multiple
celebrity-themed
memecoins
being
promoted
by
Arora,
an
Indian
national.
The
alleged
scammer
has
been
acting
as
a
middleman
for
celebrities
and
exploiting
their
lack
of
experience
with
web3.

Arora
launched
and
promoted
the
“RICH”
token

by
hacking
American
rapper
“Rich
the
Kid’s”
X
account. 

He
then
moved
on
to

launch
JENNER,
an
SOL-based
meme
coin
on

pump.fun,
themed
after
American
media
personality
Caitlyn
Jenner.
He
further
raised
$300,000
in
a
token
presale
under
the

guise
of
Australian
musician
Iggy
Azalea.

All
of
the
aforementioned
tokens
saw
their
prices
crash
hours
after
launch,
with
Arora
pocketing
the
profits.
The
celebrities
have
also
distanced
themselves
from
any
involvement
with
the
alleged
scammer.

Investors
who
rushed
in
on
the
hype
around
these
celebrity
tokens
are
now
left
with
limited
recourse
and
significant
losses.

WeCare
aims
to
mitigate
this
by
mobilizing
the
community
via
its
connections
in
the
financial
and
legal
sectors.

“Additionally,
we
will
collaborate
with
industry
leaders
and
influencers
to
amplify
our
message
and
ensure
widespread
reach,”
Mohamed
added.

To
ensure
that
help
is
directed
towards
those
who
genuinely
need
it,
the
foundation
will
employ
a
stringent
verification
process.
According
to
Mohamed,
the
process
would
involve
checking
details
like
investment
records
and
communication
histories.

“Our
goal
is
to
create
a
secure
and
trustworthy
system
that
prioritizes
transparency
and
integrity,
ensuring
that
our
resources
are
directed
to
those
who
truly
need
them.”

The
foundation
has
urged
victims
to
reach
out
to
the
foundation
directly
via
social
media
to
request
support.