Hawk Tuah Fame’s Haliey Welch Faces Backlash Over Alleged Memecoin Pump-and-Dump: Report

Web persona Haliey Welch, herself of meme fame, is going through backlash and critical accusations following the implosion of her HAWK memecoin.

In response to one report from the BBC, the Discuss Tuah presenter’s Solana (SOL)-based memecoin HAWK lost more than 95% of its worth inside hours of launch, prompting YouTuber Coffeezilla to accuse Welch of executing a pump-and-dump scheme.

A pump-and-dump system artificially will increase the worth of a coin by hype or misinformation. Then the holders of that coin who purchased the token low cost (or obtained it free of charge) promote these tokens at a excessive worth, inflicting the value to drop.

In a copy-and-pasted assertion on the social media platform refused any allegations of misconduct.

“Copy and paste:

Hawkanomics:

The staff didn’t promote any token and never 1 KOL (key opinion chief) acquired 1 free token

We have now tried to discourage snipers as greatest we are able to with excessive charges originally of the launch on MeteoraAG

Charges have now dropped”

Nonetheless, in keeping with a blockchain researcher and self-described “on-chain demon” who goes by the pseudonym Zeus, Welch claims that call false.

“The staff has not but bought a token:”

In a single conversation with Welch on The Matt Kohrs Present, Coffeezilla straight instructed the Discuss Tuah host that her HAWK launch was “the worst tokenomics I’ve ever seen,” accusing Welch and her staff of partaking in insider buying and selling, including that the launch was: certainly, “a rip-off.”

Authorities haven’t introduced a proper investigation into the scenario on the time of writing. Nonetheless, if any of the alleged costs land on Welch and her staff, she might face critical authorized scrutiny from the U.S. Securities and Change Fee (SEC).

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Featured picture: Shutterstock/Voger Design/Andy Chipus