Hawk Tuah Girl’s cryptocurrency team is facing severe criticism after their $HAWK meme coin imploded, leaving thousands of investors in the dark. The coin’s value skyrocketed to nearly half a billion dollars just one day before crashing by 95%, wiping out retail investors in hours.
The $HAWK disaster has raised concerns about pump-and-dump schemes and insider trading, with many accusing the team of building hype for a cash-grab cryptocurrency project. Critics point to alleged evidence of insiders offloading their stakes for huge sums and buyers amassing a vast majority of available coins before selling them at instant profit.
In a recent discussion on X Spaces, Hawk Tuah Girl’s team attempted to address concerns but failed to alleviate suspicions. The conversation turned contentious when YouTuber Coffeezilla grilled the team about improper financial activity, labeling $HAWK a “scam” outright.
The fallout has also inspired a “revenge coin,” $TUAH, which aims to surpass $HAWK’s market cap by exploiting memes of Hawk Tuah Girl behind bars. As the situation unfolds, it remains to be seen what legal or reputational consequences Hawk Tuah Girl will face for her involvement in the cryptocurrency scandal.
The incident serves as a cautionary tale about the risks of investing in unregulated cryptocurrencies and the importance of due diligence when entering the crypto space without proper knowledge.
Source: https://www.rollingstone.com/culture/culture-news/hawk-tuah-crypto-meme-coin-crash-1235194089