As a seasoned gamer who has witnessed the rise and fall of countless digital assets, I find myself deeply concerned about the recent events surrounding Haliey Welch and the Hawk Tuah coin ($HAWK). The dramatic price fluctuations and allegations of fraudulent activities have left me with a bitter taste in my mouth.
21-year-old internet star Haliey Welch, popularly recognized as the “Hawk Tuah Girl“, has found herself in the midst of a cryptocurrency controversy. She is under scrutiny after reportedly introducing a meme coin called $HAWK, which saw a steep rise and subsequent drop, sparking claims of questionable business practices.
As a devoted follower of cryptocurrency news, I can’t help but share an intriguing event that unfolded on December 5, 2024. The Hawk Tuah coin, newly introduced to the market, skyrocketed in value, reaching a staggering market cap of approximately $500 million within minutes of its launch. But just as swiftly as it rose, the bubble burst, with the coin’s worth plummeting to around $60 million mere minutes later. This sudden devaluation has left many investors who had purchased the coin at its peak reeling from substantial financial losses.
Hawk is live!!!
HAWKThXRcNL9ZGZKqgUXLm4W8tnRZ7U6MVdEepSutj34
— Haliey Welch (@HalieyWelchX) December 4, 2024
The accusations against Welch involve masterminding a “hype-and-sell” strategy. In these strategies, the worth of an asset is unfairly boosted (hyped up) by spreading false positive information, followed by the perpetrators selling off (getting rid of) their shares at the highest point. This leaves other investors with assets that have lost value.
Some people question whether the coin’s introduction was strategically planned, as it’s said that over 96% of $HAWK tokens were reportedly stored in linked accounts prior to the launch. Yet, no solid proof implicating Welch or her team in prearranged activities has been provided. As a result, attention has shifted towards the possibility of insider trading.
This “SAFT” claim is insane. Hawk Tuah coin was 100% unlocked on launch. That always will rug if you have people buying in with 0 unlock.
This team presold tokens for millions, and then are crying that they “didn’t sell” and blame it on the “SAFT”. I don’t buy it.
— Coffeezilla (@coffeebreak_YT) December 5, 2024
YouTube commentator Coffeezilla, who frequently exposes cryptocurrency frauds, has taken his criticism a step further by alleging that Welch and her colleagues were involved in insider trading. According to him, they supposedly had advance information about the coin’s market trends and sold their holdings before the market downturn. In Coffeezilla’s words, “This group cashed out tokens worth millions, but now they claim they ‘didn’t sell.’ Instead, they blame it on the ‘SAFT’ [Simple Agreement for Future Tokens]. I don’t believe it.
After the recent event, legal teams are considering filing lawsuits against Welch due to allegations of deceptive practices towards investors. These potential charges could be related to securities fraud or other forms of financial wrongdoing. Currently, the details of how the coin was marketed and the specific financial dealings of Welch and her associates are under scrutiny during an ongoing investigation.
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2024-12-06 13:13