🌎 WeCare Foundation Supports Victims of Crypto Pump and Dump Schemes

The WeCare Foundation aims to assist victims of alleged pump and dump schemes orchestrated by Sahil Arora. The foundation, led by CEO Saad Kassis Mohamed, is committed to providing legal and financial support to those affected by Arora’s recent activities.

“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 stated.

Arora, an Indian national, has been involved in promoting multiple celebrity-themed memecoins. Acting as a middleman for celebrities, Arora exploited their inexperience with web3 technologies. He launched and promoted the “RICH” token by hacking American rapper Rich the Kid’s social media account. Following this, he launched JENNER, an SOL-based meme coin themed after Caitlyn Jenner, and raised $300,000 in a token presale under the guise of Australian musician Iggy Azalea.

All of these tokens experienced significant price crashes shortly after their launch, with Arora retaining the profits. The celebrities involved have distanced themselves from the alleged scammer. Investors who were drawn to the hype surrounding these celebrity tokens are now facing substantial losses and limited options for recourse.

The WeCare Foundation aims to mitigate these losses by leveraging its connections within 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 assistance reaches those who genuinely need it, the foundation will implement a stringent verification process. This process will involve checking investment records and communication histories to validate claims. “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,” Mohamed emphasized.

The foundation has encouraged victims to contact them directly via social media to request support.