Web character Haliey Welch, herself of meme fame, is dealing with backlash and critical accusations after the implosion of her HAWK memecoin.
In accordance with a report from the BBC, the Discuss Tuah host’s Solana (SOL)-based memecoin HAWK lost more 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 means of hype or misinformation. Then, holders of that coin who purchased the token low-cost (or acquired it at no cost), promote these tokens at a excessive worth, crashing the worth.
In a copy-and-pasted assertion on the social media platform X, Welch has denied any allegations of wrongdoing.
“Copy and pasting:
Hawkanomics:
Staff hasn’t offered one token and never 1 KOL (key opinion chief) was given 1 free token
We tried to cease snipers as greatest we may by means of excessive charges within the begin of launch on MeteoraAG
Charges have now been dropped”
Nonetheless, in keeping with a blockchain investigator and self-described “on-chain demon” who goes by the pseudonym Zeus, Welch’s claims ring untrue.
“The staff hasn’t offered one token:”
In a conversation with Welch on The Matt Kohrs Present, Coffeezilla informed the Discuss Tuah host straight that her HAWK launch constituted “the worst tokenomics I’ve ever seen”, accusing Welch and her staff of collaborating 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 costs are dropped at Welch and her staff, she may face critical and extreme authorized scrutiny from the U.S. Securities and Alternate Fee (SEC).
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