The Rise and Fall of Crypto Scammer Sahil Arora: A $30 Million Fraud Exposed

Cryptocurrency scams continue to proliferate, fueled by the allure of quick profits in nascent tokens and a widespread lack of technical literacy among investors. The case of Sahil Arora, an Indian businessman turned serial fraudster, exemplifies this troubling trend. Over several years, Arora orchestrated a sophisticated scheme involving more than 200 fake tokens, duping victims of over $30 million.

Arora cultivated an image of legitimacy through social media, amassing 1.2 million Instagram followers and flaunting associations with celebrities like Caitlyn Jenner and SwaeLee. These connections lent credibility to his fraudulent ventures, with some celebrities unwittingly promoting his scams. His entry into crypto at age 17 in 2017—via the Vuzelaa Group and an ambitious but ill-fated Bitcoin ATM venture—masked his eventual pivot to criminal activity after relocating to Dubai.

The scam unraveled when market analyst crypto Jargon detailed Arora's operations in a viral X thread, titled 'The Rise and Fall of Sahil Arora.' The exposé highlighted how Arora exploited the crypto ecosystem's opacity, using fabricated projects and celebrity endorsements to lure unsuspecting investors. Despite his eventual downfall, the case underscores systemic vulnerabilities in an industry still grappling with accountability.