Bubblemaps: Indian developer Sahil Arora made approximately $30 million in profits through celebrity coins within this year

On August 15th, Bubblemaps, a blockchain data visualization platform, released a survey report revealing the actions of Sahil Arora, an Indian developer, who made a profit of about 30 million US dollars in 2024 by issuing tokens for celebrities. The report pointed out that Arora, who currently resides in Dubai, has issued tokens for several well-known figures such as Iggy Azalea and Caitlyn Jenner, but most of the projects ended up with zero value.

Arora operates through the Pump.fun platform, using his Instagram influence and verification badge to persuade celebrities to promote TokenAddress with high rewards for tweeting. He usually holds 25-40% of the token supply and immediately dumps it after the celebrity tweet, using the fans of the celebrity as an exit liquidity.

Bubblemaps has discovered over 40 addresses related to Arora. From early 2024 to present, he has trapped approximately 26.4 million USD, with the highest amount trapped in August at 6.6 million USD. Although causing significant losses to investors, Arora's actions exist in a legal grey area, making it difficult to hold him accountable. Even celebrities involved have not taken action due to partial responsibility.