It just wouldn't be a day in the memecoin space without a crafty new scam stealing the headlines. Even celebrities aren’t immune to being swindled, and our latest victim Caitlyn Jenner found herself entangled in a nuanced rug-pull orchestrated by Instagram influencer Sahil Arora. At least that's the story that's being told.

Leading voices in the space argued for hours over the legitimacy of a tweet from Caitlyn Jenner's account containing a link to a newly launched Pump Fun token. Debate centered around whether the account had been hacked and if her photos and videos were deepfakes. The skepticism was understandable, because why would a celebrity of Jenner's caliber launch a memecoin of Pump Fun while out golfing on a Sunday afternoon?

Turns out Jenner's was not hacked. Compromised? Maybe. Manipulated? Certainly. According to her team, Jenner's account was socially engineered by Sahil Arora who presented himself as a helpful middleman. Tasked with launching Jenner's token, Sahil misled the team and quickly dumped all the tokens from the deployer wallet along with others he’d bought up on burner wallets. Bereft of any tokens from her namesake project, Caitlyn has been seen commenting her wallet below influencer giveaways in an attempt to rebuild her position.

Jenner’s manager Sophia Hutchins, blissfully unaware of what was really happening, claimed on Twitter Spaces that they believed either Pump Fun or Sahil was "holding all the tokens for them." Clearly lacking any understanding of how cryptocurrencies work, Sophia was unable to say much other than they were waiting for clarity on the situation from Pump Fun and Sahil. At one point, she believed the Raydium wallet holding around 3.5% of the supply at the time was theirs. Adding insult to injury, Jenner’s team left up a scam tweet crafted by Sahil urging people to send him tokens. Many projects seeking an endorsement to millions of Jenner's followers obliged, adding to Sahil's gains on the day.

Sahil's devious exploits don’t stop with Jenner. This week alone, he’s believed to have successfully run five influencer rugs. Among his other victims are model Normie Kazumi, rapper Rich the Kid, model Ivana Knoll, and artist Soulja Boy. All roads lead back to his main wallet, a digital den of deceit. On a Twitter Space earlier today, Rich the Kid spoke briefly to working with Sahil and claimed he offered $100,000 for a tweet. He's since taken to launching a new RTK coin on his own, though we've yet to see that come to fruition.

While it’s easy to chuckle at the absurdity of it all, these incidents highlight a serious issue: the desperate need for more education in the crypto space. Having millions of dollars or followers is not enough and the need to carefully research and understand the space is paramount. The line between genuine opportunity and outright scam can be razor-thin, and as last night’s events show even the well-known can be woefully unaware.

So, the next time a celebrity token pops up on your timeline, take a moment to question its legitimacy. Remember, the crypto world is full of con artists like Sahil, eager to exploit the uninformed. Stay vigilant, stay educated, and always do your own research.