Memecoins
Caitlyn Jenner crypto token JENNER sparks confusion: Scam or not?
Caitlyn Jenner and Rich the Kid allege that they were ‘scammed’ while Iggy Azalea outwits the ‘memecoin scammer.’
- Caitlyn Jenner’s crypto debut leaves more questions than answers.
- Apparently, Jenner and Rich the Kid claimed they were scammed.
Several celebrities’ and crypto influencers’ social media accounts have been reportedly ‘compromised’ and used to pump various crypto tokens.
However, confusion still remains on one particular celeb — Caitlyn Jenner and the Solana [SOL]-based token JENNER that the account promoted.
Apparently, Jenner, a social media personality, launched her token, JENNER, which quickly hit $100 million in trading volume a few hours after launch.
Two days after the weekend launch, JENNER still traded at high volume, worth over $60 million at press time per Dexscreener data.
Caitlyn Jenner alleges crypto scam
The hype around the token saw it rally over 19000% in two days, rising from $0.000062 to $0.042. Despite easing slightly to $0.028, whether her account was compromised or not remains unclear.
However, Jenner dismissed that she was ‘hacked’ and stated,
“I have not been hacked, and keep sending this to the moon.”
Another user, Roxo, however,
stated that Jenner’s account wasn’t ‘hacked’ but socially engineered by alleged scammer Sahil Arora. Sahil reportedly accomplished five influencer rugs last week, including Jenner’s.Interestingly, when asked whether Sahil was behind it all, Jenner confirmed that, indeed, Sahil scammed them.
“F**K SAHIL! He scammed us! BIG TIME!”
Sahil didn’t stop at Jenner, but also scammed a rapper known as Rich The Kid.
Another celeb, rapper Iggy Azalea, whose account also recently posted a handful of crypto-related content, including Solana, distanced herself from Sahil.
“I was in contact enough to smell he’s a b*tch”
But Sahil’s exploits seem not restricted to crypto. In 2017, India’s fintech giant PayTM’s founder and CEO, Vijay Shekhar Sharma, accused Sahil Arora of impersonation and identity theft.
That said, it seems that Azalea and Jenner’s accounts weren’t necessarily ‘hacked,’ per some market observers.
Notably, only 1% of the speculators on the prediction market Polymarket believed that Caitlyn Jenner’s account was compromised.
However, another revered crypto trader and influencer, GCR Classic, was reportedly hacked over the weekend.
The attackers allegedly used the GCR Classic account to pump and dump Solana meme coin CAT and Bitcoin [BTC]-based ORDI.
According to another user, that’s the problem with some meme coins without a strong community. They can easily go to zero because they can be used as an exit scam.
So, caution and due diligence are crucial when dealing with new meme coins and tokens.
