Hello, dear reader. Today you will learn about the Hawk Tuah memecoin, and that’s basically the state of the crypto industry — full of innovation and high-tech, am I right, crypto bros?

But leaving my comments aside, Haliey Welch, who launched the Hawk Tuah memecoin recently, is under fire for allegedly rugging her entire fan base. 

The HAWK token was launched on Dec. 5 and drew widespread criticism as the token experienced a brief surge in value followed by a sharp decline. We’re talking about a coin that reached half a billion dollars in market capitalisation and lost over 90% of that value.

Related: US Congressman’s $30K Investment in Ski Mask Dog Sparks Memecoin Rally

Only Normies Get Rugpulled

But popular crypto investigator Coffeezilla refuted the claims that Welch profited US$50M (AU$78.2M) — or conducted a US$500M (AU$782M) rug pull. 

Welch’s lawyer stated that she has earned only US$125K (AU$195K) from the launch, but most of the funds are vested for a year. And no, no lawsuits are being filed (not yet). While Coffeezilla acknowledged there’s “lots to criticize here”, he warned that we should stay with the actual, verifiable information so far.

The normies who purchased DID get rugpulled, and all of this was enabled by the team which includes Hawk Tuah girl — it’s already horrible no need to invent headlines about “$500m rugs and $50m profits.

Coffeezilla

Now that’s one thing, but what is Haliey saying? Well, overHere, which appears to be some random page that supports the HAWK token, says Haliey’s team has 10% allocation locked for one year and vested for three. 

Source: overhere.tech

The rest of the tokens are distributed into the different wallets according to the tokenomics. More details to follow, but for now we invite the community to reply with other concerns they have and we’ll address them as best we can.

overhere.tech

Funny enough, there’s a community note adding some sweet context.

What a time to be alive.

So, anyway, was it a scam at the end of the day? No one knows, but I guess you can take this post as an answer:

Unpopular opinion: $HAWK wasn’t a scam you are just retarded if you invested. pic.twitter.com/FMw14RHKQ4

— NakedNick (@Nakdnick) December 8, 2024

Related: Celsius Founder Alex Mashinsky Agrees to Plead Guilty in Crypto Fraud Case

The post Coffeezilla Urges Accuracy in Reporting on Hailey Welch’s Hawk Tuah Memecoin Controversy appeared first on Crypto News Australia.