In December 2024, Haliey Welch, widely recognized as the “Hawk Tuah Girl” following her viral internet fame, ventured into the cryptocurrency market by launching a memecoin named Hawkcoin ($HAWK). The token experienced a meteoric rise, reaching a market capitalization of approximately $490 million shortly after its release. However, this success was fleeting; within hours, Hawkcoin’s value plummeted by 95%, settling at around $26.4 million.
The rapid decline raised suspicions of insider trading and a potential pump-and-dump scheme. Analyses from platforms like Bubblemaps and Dexscreener indicated that a small group of insider wallets and “snipers”—entities that purchase large amounts of a token at launch to sell for profit—controlled between 80% to 90% of Hawkcoin’s supply at its inception. One notable transaction involved a wallet acquiring 17.5% of the total supply seconds after launch for approximately $993,000 and subsequently selling the tokens for a $1.3 million profit.
Welch and her team have denied any wrongdoing, asserting that they did not sell any tokens and had implemented measures, such as high initial fees, to deter snipers. Despite these claims, the incident has attracted significant criticism, with crypto investigator Coffeezilla labeling the project a scam and highlighting the substantial fees generated during the token’s brief surge.
For those affected by the Hawkcoin collapse, seeking assistance is crucial. HackTrak specializes in helping victims of cryptocurrency scams navigate the recovery process. Our services include:
– Comprehensive Case Analysis: We conduct thorough investigations to trace and document fraudulent transactions, providing detailed reports that can be instrumental in legal proceedings.
– Collaboration with Authorities: We work closely with law enforcement agencies and financial institutions to facilitate the recovery of lost assets.
– Guidance and Support: Our team offers expert advice on the steps victims should take, including reporting the scam to appropriate authorities and implementing measures to prevent future incidents.
If you’ve fallen victim to a crypto scam like the Hawkcoin debacle, it’s essential to act promptly. Register with HackTrak through our Crypto Scam Victim Registration page. By providing detailed information about your case, you enable us to assist effectively in the recovery process.
Remember, time is of the essence in these situations. Engaging with professionals who understand the complexities of cryptocurrency fraud can significantly enhance the likelihood of recovering your assets. HackTrak is committed to supporting victims through every step of this challenging journey.