The “Hawk Tuah” girl launched a meme coin, and—anyone? Any guesses? 

Tell me if you’ve heard this one before: allegations are swirling online that the project has been rug pulled, while the team behind the crypto token, HAWK, is adamantly denying any wrongdoing. 

On Wednesday evening, Hailey Welch, Ms. Tuah herself, launched the HAWK token to much fanfare. Within less than 15 minutes, the token climbed to a market capitalization of $490 million before immediately collapsing over 93% in value. 

Apparently, a web of interconnected wallets sold off vast sums of the token as soon as the public began buying it—and pocketed over $3 million thanks to the maneuver. 

Bubblemaps, the on-chain data visualization company, determined on Thursday that 285 wallets collectively acquired some 96% of HAWK’s supply during token presales and giftings. Within the first minutes of HAWK’s debut, the majority of those wallets dumped their tokens to make a quick profit.

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Author: Sander Lutz

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