Hailey Welch's $HAWK cryptocurrency launch turned disastrous as its value dropped below 5% of the original, leaving many investors claiming massive losses.
Critics allege Welch and associates engaged in 'rug pulling', a scheme where initial hype drives up a coin's value before the insiders sell off.
Despite the accusations, Welch asserts that neither she nor her team sold their $HAWK coins, attributing the sell-off to so-called 'snipers' exploiting the market.
An investigation revealed a high concentration of $HAWK ownership, with 96% held by merely 10 addresses, raising alarm over potential insider manipulation.
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