Crypto traders witnessed yet another ‘rug pull’ after social media celebrity Hailey Welch (aka Hawk Tuah Girl) allegedly scammed investors with her memecoin project, $HAWK, leaving traders furious.
The controversy emerged hours after Shiba Inu announced a partnership with Hawk Tuah Girl to airdrop $HAWK tokens. Launched on December 4th, the memecoin quickly attracted attention when traders discovered that a significant portion of the tokens was allocated to a single wallet.
Rug Pull allegations on Hawk Tuah Girl’s $HAWK project
Bubblemaps, a crypto analytics platform, first shared that 96$% of the $HAWK supply was held in one cluster.
$HAWK didn’t disappoint
96% of the supply in one cluster
nice 🤡 https://t.co/AP645QzkfI pic.twitter.com/ERHTG7v5oa
— Bubblemaps (@bubblemaps) December 4, 2024
Reportedly, the developer made over $2 million within 10 minutes due to a non-transparent roadmap. Welch responded only after traders raised alarms, posting the so-called “Hawkonomics” roadmap, which outlined the following:
- 21% for the Community Fund
- 20% for a free claim for Hailey’s fans, fully unlocked at TGE (Token Generation Event)
- 30% for Reserve
- 17% for Strategic Allocation, fully unlocked at TGE
- 10% for Hailey, locked for 12 months, with a 3-year linear vesting period
- 2% for a free public allocation, fully unlocked at TGE (for whitelisted meme communities)
Alongside the roadmap, Welch claimed, “The team hasn’t sold one token, and not one KOL (key opinion leader) was given any free tokens. We tried to prevent snipers by implementing high fees at launch on @MeteoraAG. Fees have now been reduced.”
However, users rejected her explanation, with many demanding legal action against Welch. Several crypto enthusiasts alleged the scam was pre-planned, pointing out that the “Hawkonomics” roadmap appeared suspiciously ready to calm outrage as soon as issues were called out.
As soon as this news surfaced, Popular NFT collector and crypto enthusiast @BentoBoiNFT highlighted discrepancies, tweeting:
“The $HAWK TUA Memecoin Dev Made Over $2 Million in 10 minutes?! 96% of the supply is held in one cluster. Main Takeaway: Stay away from celebrity coins.”
Also Read: Shiba Inu Partners Hawk Tuah Girl to Airdrop 20M HAWK Tokens
Another user, @zakaria_hirda, expressed frustration:
“TOP SNIPER is up over $3M, while KOLs and insiders have cashed out with $1M+ — leaving ZERO real investors with profits. You PATHETIC GRIFTER. I’m preparing to share the link for everyone to file a report. Your scam ends here, LYING FRAUD.”
Bubblemaps, has also shared a recent update on the matter:
“$HAWK is now being actively distributed, most likely to early investors or supporters. The team still holds more than 80% of the supply.”
Hawk Tuah ‘$HAWK’ market price
Launched on 4th December, $HAWK is currently priced at $0.000168, after seeing a modest 0.06% surge over the past day. Its 24-hour market volume skyrocketed by 1080% to $129,260, while the market cap reached $151,200.
Also Read: ‘Hawk Tuah girl’ Launches HAWK Memecoin; Faces Backlash
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