Author: REKT; Translator: Block unicorn
Hailey Welch is the clown and scammer of the encryption industry, 3 hours issuance Token big dump 91%
Some people only enjoy the short 15 minutes of fame, like a brilliant firework; some people, however, are like an old clown stuck on the stage, staying too long, embarrassed to leave…
In this era of ‘follow me’ in the cryptocurrency field, every viral moment seems to give birth to a Token. And so, we welcome the Hawk Goddess - Hailey Welch and her $HAWKToken, whose market capitalization once soared to an astonishing $490 million, only to experience a big dump of 91% just three hours later.
Despite Hailey Welch’s tweet assuring that ‘the team is not dumping Token’, on-chain data reveals a completely different truth - 96% of the Token was already concentrated in ten associated Wallets before going online.
A ‘sniper’ wallet operator easily made a profit of $1.3 million, while ordinary investors watched their investments go up in smoke.
In this era of celebrity-backed Token becoming a “disaster crash course”, $HAWK may have just set a new record.
**As investors groan, law firms are starting to ‘prey’ around HAWKToken, and some have quietly complained, ‘HAWKToken needs to hire a lawyer.’ Perhaps attracting too much attention is not a good thing either.
“This is not a fundraising action.” Hailey Welch claimed before launching $HAWK memes. This project, supported by the Web3 incubation platform overHere and claimed to build a bridge between the mainstream and encryption world, has proven to be unstable. Just three hours later, the $430 million market capitalization evaporated like air.
“HAWK is online!” She posted the contract Address on Twitter, leading thousands of people to flock in, but the result was a complete disaster for them all. Even the Crypto Veterans would frown upon seeing what happened: HAWKbig pump900%, Market Cap soared to $490 million.
Then, gravity came. The value of Token collapsed by 91%, and the market capitalization was only $41.7 million, all in just a few hours. The solution the team took to prevent sniping was to set a high initial fee on Meteoraprotocol. However, spoiler alert: this method is completely useless.
An exceptionally sharp ‘predator’ not only successfully targeted prey, but also staged a ‘carpet bombing.’ Within seconds of going online, a Wallet quickly absorbed 17.5% of the Token supply and effortlessly completed the transaction with 4,195 WSOL (approximately $96.54 million).
Just 90 minutes later, the wallet earned $1.3 million in profits by flipping about 178 million HAWK tokens.
Meanwhile, ordinary investors on the other end of the food chain have been ‘plucked and can no longer fly.’ It is reported that one unfortunate investor exchanged $1.4 million worth of MOODENG for HAWK, only to watch their investment evaporate in an instant, like a promise in the Bull Market.
If the drama of the online launch is not dramatic enough, then the next favorite detective of the crypto circle, Coffeezilla, will make an appearance. This ‘hawk god’ interrupted the Spaces live broadcast halfway, attempting to inquire about the truth of the so-called ‘millions of dollars eyewash’.
What did she say?
Spaces live broadcast continues, but the damage has been done. Coffeezilla (he is an encryption detective, exposing eyewash) has ignited an unstoppable fire.
When discussing the suspicious fees and Token allocation issues, Hailey Welch made the most “hawkward” exit in encryption history by suddenly announcing that she was going to “sleep” during the live broadcast.
Nothing says ‘legitimate’ like using a virtual ‘Irish goodbye’ to avoid a tricky issue.
All of this leaves investors wondering: if there’s really nothing to hide, why pretend to be asleep? However, as millions of funds disappear in just a few hours, sleeping may be the only safe haven when facing angry investors. Yet, can any explanation truly extinguish the rage when funds evaporate in a matter of hours?
Crisis public relations followed closely…
“Fear, uncertainty and doubt are so outrageous, let’s explain,” the overHere team began an attempt to salvage the narrative.
Regarding the Bubblemaps data showing that 96% of tokens are concentrated in a few wallets, their defense is: “Everything is in line with tokenomics.”
The team claims that these centralized Wallets are only a reflection of the public distribution plan:
- 21% allocated to the community fund
- 20% allocated to Hailey’s fans
- 30% Reserve
- 17% strategic allocation
- 10% allocated to Hailey (Lock-up Position)
- Only 2% is publicly allocated
**“Hailey’s team is absolutely not dumping any tokens,” they insisted, explaining that her token allocation is lock-up Position for one year and takes three years to fully unlock. **
Perhaps, this is a noble move - if the other 90% of Tokens do not have ‘freedom of action’. When a Token big dumps 91% in three hours, will the market mechanism care about your lock-up period?
Birds move in flocks
**But this ‘eagle’ is not flying alone, the launch of Token did not happen in a vacuum.
One month ago, Hailey Welch posted a thought-provoking warning: ‘It’s not my Token, be careful not to be deceived.’ She also directed people to consult Doc Hollywood and SolanaSweeper about MEME coin business.
It turns out that half of what she said is true - it is indeed her Token, but the “eyewash” part has stood the test of time.
In Coffeezilla’s video, Welch’s lawyer inadvertently revealed her actual compensation - a prepaid fee of $125,000, and a 50% share of the Token proceeds she allocated, as the Token continued to decline, the law firm gathered like a bald eagle after a desert storm.
Burwick Law invites anyone who has suffered losses in $HAWK on X to “know their legal rights.” Some users claim they have filed complaints with the SEC—perhaps it will be their turn after SafeMoon investors get their refunds. The real verdict may not come from regulators or lawyers, but from the market itself.
Despite the criticism focused on the Welch team, on-chain data shows another ‘culprit’ - 17% of the strategic allocation tokens flowed to 285 investors from HAWKXJAddress and were fully unlocked upon launch.
These ‘early birds’ wasted no time in quickly dumping newcomers. When early investors profit from newcomers, should the spokesperson for Token be blamed or the ‘invisible hand’ of dumping?
At least, a cunning sniper wallet has made off with $1.3 million, while countless others have had to face ‘luggage’ lighter than expected.
At least some people have seen these warning signals, while others are still busy refreshing Twitter, looking for the next viral moment. In the attention economy of encryption, perhaps the real ‘winners’ are those who know when to shift their focus. In the attention economy, is notoriety as valuable as good reputation?
In the world of encryption, the endless pursuit of the ‘next skyrocketing coin’ can make even a short fifteen minutes of fame seem endless.
Although Hailey Welch has skyrocketed from the internet MEME to the issuance of MEME coins, many investors have also paid a painful tuition in this viral traffic frenzy, realizing the true cost of “explosive popularity”.
Now, every cryptocurrency player should read the textbook ‘How to Avoid Being Harvested’ - Chapter 1: Celebrity Token is a major threat to Wallet health.
**However, history always repeats itself, and retail investors still chase celebrity Tokens like moths to a flame, ignoring the increasingly expensive ‘cost’ of this game. As P.T. Barnum is said to have said: ‘There’s a sucker born every minute, and two suckers waiting to play people for suckers.’ In the attention economy of the encryption industry, this probability even seems somewhat conservative.
The intersection of traffic and encryption urgently needs a new ‘gatekeeper’ role - one that can bridge the gap between viral traffic and sustainable tokens, and prevent all of this from happening before more reputation damage and empty wallets occur.
Perhaps, the real “carpet harvesting” comes not from the fren we meet along the way, but from our blind belief that “this time will be different”.
As law firms are eager to try, regulatory agencies are also sharpening their knives. How many fans need to be ‘plucked’ before we can admit that sometimes, there is too much fame in fifteen minutes?
