Hailey Welch, a.okay.a the Hawk Tuah Woman, launched her highly-anticipated memecoin on Solana Wednesday. Whereas $HAWK noticed an preliminary surge of a whopping $500 million, it tanked to $60 million in simply 20 minutes. Because the surprising crash misplaced a few of the patrons their “complete life financial savings,” netizens accused the 21-year-old of “rug pull” and “pump-and-dump” crypto rip-off.
Hawk Tuah Woman’s meme coin $HAWK crashes in minutes, patrons lose all their cash
Simply minutes into the launch, $HAWK soared to $500 million, drawing confidence amongst patrons. Nevertheless, it was short-lived, because the crypto plunged to $60 million inside 20 minutes. Consumers of the meme coin, who have been primarily Welch’s followers, suffered extreme financial losses. The sudden crash raised a number of eyebrows, with many accusing the web character of scamming them with rug pull, which is a kind of frequent exit rip-off often seen within the cryptocurrency market.
What’s rug pull?
“A rug pull is a kind of exit rip-off that entails a workforce elevating cash from buyers and the general public by promoting a token solely to quietly shut down the venture or all of the sudden disappear, stealing the raised funds and leaving “buyers” (i.e., their victims) with nugatory tokens,” in line with CoinDesk.
$HAWK patrons demand Hailey Welch face jail time
Followers shortly flocked to social media to spotlight their losses, with one blaming Welch for his or her lack of “life financial savings.” “My $35,000 that I bought of $Hawk is now $2,000 after 10 minutes of shopping for. I’m an enormous fan of Hawk Tuah however you took my life financial savings. I bought your coin $Hawk that you just have been so enthusiastic about with my life financial savings and youngsters’s school schooling fund as properly,” an X person wrote.
“You didn’t point out that you just have been going to purchase 97% of the availability and promote it virtually instantly to make a big revenue. If I might have recognized that data I might haven’t bought your coin. Please assist me or who can I contact for refund? If not I might be compelled to make use of leagal motion,” they added.
Crypto fanatic Bento Boi warned netizens to steer clear of cryptocurrencies, particularly movie star cash. Sharing his evaluation of the dramatic crash, the web character wrote, “The $HAWK TUA Memecoin Dev Made Over $2 Million in 10 minutes?! 96% of the availability is held in a single cluster Foremost Takeaway: Keep Away From Movie star Cash Here is the scenario.”
