Web persona Haliey Welch, herself of meme fame, is dealing with backlash and critical accusations after the implosion of her HAWK memecoin.
In keeping with a report from the BBC, the Discuss 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 way of hype or misinformation. Then, holders of that coin who purchased the token low cost (or bought it at no cost), 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:
Crew 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 may by way of excessive charges within the begin of launch on MeteoraAG
Charges have now been dropped”
Nonetheless, in line with a blockchain investigator and self-described “on-chain demon” who goes by the pseudonym Zeus, Welch’s claims ring unfaithful.
“The staff hasn’t offered one token:”
In a dialog with Welch on The Matt Kohrs Present, Coffeezilla advised the Discuss Tuah host straight that her HAWK launch constituted “the worst tokenomics I’ve ever seen”, accusing Welch and her staff 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. Nonetheless, if any of the alleged fees are dropped at Welch and her staff, she may face critical and extreme authorized scrutiny from the U.S. Securities and Change Fee (SEC).
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