Hailey Welch, known as the Hawk Tuah Girl, launched her highly anticipated memecoin $HAWK, which initially skyrocketed to $500 million but dramatically plummeted to $60 million within just 20 minutes. Many of her fans, who had invested their life savings into the coin, are now in financial distress and accusing her of a “rug pull” scam. This type of exit scam involves creators disappearing with the funds after attracting investors. Some buyers have stated their losses publicly, with one user reporting a drop from $35,000 to only $2,000 in minutes. As frustration grows, demands for legal accountability and warnings against investing in celebrity-backed cryptocurrencies are on the rise.
Title: Hawk Tuah Girl’s Memecoin Crashes, Raising Fraud Allegations
Date: December 5, 2024
In a shocking turn of events, the newly launched memecoin $HAWK by social media sensation Hailey Welch, known as the Hawk Tuah Girl, has plummeted in value just minutes after its launch. Initially valued at an eye-popping $500 million, the cryptocurrency rapidly fell to only $60 million within a mere 20 minutes, leaving many investors devastated.
Welch, who has gained considerable fame online, saw her followers rush to buy the coin, eager to capitalize on the trend. However, this excitement quickly turned to despair as investors began to report substantial financial losses, with some claiming they lost their entire life savings. Social media has erupted with accusations of a “rug pull,” a common term in the crypto world referring to a scam where creators abruptly withdraw funds, leaving investors with worthless assets.
Many exasperated buyers are calling for Welch to face legal action. One upset investor lamented their investment of $35,000, which had shrunk to just $2,000 shortly after purchase. Critics are also emphasizing the need for caution around celebrity-endorsed cryptocurrencies, warning that these kinds of investments could be inherently risky.
This incident raises serious questions about transparency and responsibility in the cryptocurrency Market, particularly when influencers promote these volatile assets. As the dust settles, regulators may need to take a closer look at how such coins are marketed and the potential implications for unsuspecting investors.
Tags: Hawk Tuah Girl, memecoin, cryptocurrency, rug pull, investment losses, financial fraud, social media, Hailey Welch, $HAWK, US news
What happened to Hawk Tuah Girl’s coin?
The value of the Hawk Tuah Girl’s meme coin dropped from $500 million to $60 million very quickly.
Why did the coin crash so fast?
The crash was likely caused by people selling off their coins all at once, which made the price go down quickly.
How are fans reacting to this crash?
Fans are very upset and in shock because they lost a lot of money in such a short time.
Can the coin recover after this crash?
It’s hard to say. Some coins can bounce back, but many don’t. It really depends on how people feel about it moving forward.
What should I do if I own this coin now?
If you own the coin, it might be a good idea to wait and see what happens next. You could also consider talking to someone who knows about investments.
