- Main event, leadership changes, market impact, financial shifts, or expert insights.
- Welch not named in lawsuit against involved entities.
- Market impact leads to a 95% value crash.
Hailey Welch, internet personality, is cleared in the HAWK token rug pull event, while legal actions proceed against Tuah the Moon Foundation and overHere Ltd.
The incident highlights risks associated with celebrity-backed cryptocurrencies, leading to legal scrutiny and adverse market reactions with broad implications for influencer-driven projects.
Welch’s Limited Role in HAWK Token Scandal
Hailey Welch, known as the “Hawk Tuah” girl, was associated with the HAWK token, which experienced a noteworthy rug pull with unfulfilled payment promises to Welch. Quote from Welch on her knowledge about crypto .
Welch publicly stated her limited role, focusing on brand image usage. Legal claims target associated entities for illegal promotion of the token.
95% Crash in HAWK Token Post-Rug Pull
The immediate result was a 95% drop in token value, revealing vulnerabilities in the financial infrastructure of celebrity-endorsed cryptocurrencies.
Legal action against Tuah the Moon Foundation and overHere Ltd. has surfaced, marking a critical judgment on regulatory compliance related to cryptocurrency marketing practices.
Rising Scrutiny on Influencer-Driven Cryptos
This event is similar to other celebrity-tied meme coin failures, where price collapses occur due to team liquidity withdrawals.
Experts predict increased scrutiny on influencer-backed coins, spotlighting the risks of speculative investments lacking regulatory compliance.
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