Haliey Welch, an internet personality known for her memes, is facing backlash and severe criticism following the collapse of her HAWK memecoin.
According to a report by the BBC, host Talk Tuah’s Solana (SOL)-based memecoin HAWK lost more than 95% of its value within hours of launch, leading YouTuber Coffeezilla to accuse Welch of executing a pump-and-dump scheme.
The pump and dump method artificially inflates the value of a coin through hype or misinformation. Then, holders of those coins who bought the tokens cheaply (or got them for free) sell those tokens for a high value, causing the price to plummet.
In a statement copied and pasted to social media platform X, Welch denied any allegations of wrongdoing.
“Copy and paste:
Hokanomics:
The team did not sell a single token and not a single KOL (Key Opinion Leader) was given one free token.
We did our best to keep shooters at bay through high fees in the early days of MeteoraAG’s launch.
Now the fees have been reduced.”
However, according to a blockchain investigator and self-described “on-chain devil” who goes by the pseudonym Zeus, Welch’s claims are not true.
“The team did not sell any tokens:”
In a conversation with Welch on The Matt Kohrs Show, Coffeezilla directly told the Talk Tuah host that his HAWK launch had “the worst token economics I’ve ever seen,” accusing Welch and her team of engaging in insider trading and disparaging his comments. added. The launch was actually a “scam.”
Authorities have not announced an official investigation into this situation at the time of writing. However, if charges are brought against Welch and her team, she could face serious and stringent legal scrutiny from the U.S. Securities and Exchange Commission (SEC).
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