Web character Haliey Welch, herself of meme fame, is dealing with backlash and critical accusations after the implosion of her HAWK memecoin.
In response to a report from the BBC, the Speak Tuah host’s Solana (SOL)-based memecoin HAWK misplaced greater than 95% of its worth inside hours after launch, prompting YouTuber Coffeezilla to accuse Welch of executing a pump-and-dump scheme.
A pump-and-dump scheme artificially inflates a coin’s worth by hype or misinformation. Then, holders of that coin who purchased the token low-cost (or bought it totally free), promote these tokens at a excessive worth, crashing the value.
In a copy-and-pasted assertion on the social media platform X, Welch has denied any allegations of wrongdoing.
“Copy and pasting:
Hawkanomics:
Group hasn’t offered one token and never 1 KOL (key opinion chief) was given 1 free token
We tried to cease snipers as finest we might by excessive charges within the begin of launch on MeteoraAG
Charges have now been dropped”
Nevertheless, in response to a blockchain investigator and self-described “on-chain demon” who goes by the pseudonym Zeus, Welch’s claims ring unfaithful.
“The crew hasn’t offered one token:”
In a dialog with Welch on The Matt Kohrs Present, Coffeezilla informed the Speak Tuah host immediately that her HAWK launch constituted “the worst tokenomics I’ve ever seen”, accusing Welch and her crew of taking part in insider buying and selling, and including his opinion that the launch was, certainly, “a rip-off.”
The authorities haven’t introduced any formal investigations into the state of affairs as of writing. Nevertheless, if any of the alleged costs are dropped at Welch and her crew, she might face critical and extreme authorized scrutiny from the U.S. Securities and Alternate Fee (SEC).
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