Blogger Haliey Welch, who gained popularity on the Internet due to a series of racy interviews and known as Hawk Tuah Girl, found herself at the center of a cryptocurrency scandal. On December 4, Welch and her team released the Hawk Tuak token ($HAWK).
By data DEXScreener, HAWK was launched around 22:00 UTC with a price of $0.005492 at the start and within a few hours grew by 900% to $0.04916, almost instantly reaching a market capitalization of $490 million. Then, in less than three hours, the price token fell sharply by 91%, and the total capitalization of the project dropped to $41 million.
The rapid devaluation of the token led to noticeable financial losses for investors who purchased the coin at the peak of its popularity, as well as accusations against Welch and her team for pump and dump fraud.
For example, a blogger under the nickname Scooter, guided by data Bubblemaps and Dexscreener, stated that the launch of memcoin was intended solely for fraudulent purposes. Trader paid Please note that at the time of the launch of $HAWK, from 80% to 90% of coins were in wallets with addresses linked to each other by transactions.
Welch December 5 reportedthat she and her team did not sell any tokens or conduct any free coin giveaway events.
Amid the scandal, several bloggers stated that they filed complaints with the US Securities and Exchange Commission (SEC) about the protection of investor rights, and the law firm Burwick Law addressed all those affected by the Hawk Tuak project with a proposal provide help.
The day before, Argentine police detained 27-year-old Instagram influencer Candela Salazar, suspecting her of cryptocurrency fraud and defrauding investors.
Source: Bits
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