Influencer Hailey Welch's HAWK memecoin launched with massive hype but crashed 94% within hours, leaving many investors, primarily her fans, with significant losses.
On-chain data suggests insider trading and a pre-planned "rug pull," despite denials from Welch and her team.
Be extremely cautious when investing in cryptocurrency projects, especially those promoted by influencers, and thoroughly research before committing funds to avoid similar scams.
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