Forward Industries Bets Big on Solana Future With $1 Billion Buyback and SEC-Registered Resale Plan
Forward Industries announced a $1 billion share buyback and filed a resale prospectus with the US SEC to strengthen investor confidence.
AnaisLog in/ Sign up
Popular Tiktoker Hailey Welch's $HAWK Coin Surges and Plunges in 20 Minutes – Is It a Scam?
Follow
Hailey Welch's Memecoin $HAWK Faces Scandal After Explosive Price Crash
On 4 December 2024, Hailey Welch, the popular Tiktok influencer known for her viral “Hawk Tuah” meme, launched her own memecoin, $HAWK, on the Solana blockchain.
What began as a fun, community-driven project quickly spiraled into a controversy, raising serious questions about the token’s legitimacy.
$HAWK Soars and Crashes in Minutes
The $HAWK token's debut was nothing short of explosive.
Initially, it surged to a market capitalisation of $500 million within hours of launch, peaking at $0.00004028 per coin.
However, within a mere twenty minutes, the price tumbled by 50%, and in just three hours, it had plummeted by an astonishing 91%.
Such a rapid crash set off alarm bells across the crypto community, with many pointing fingers at potential foul play.
Investors were quick to cry foul, suspecting that the rapid fluctuations in price might be the result of a "rug pull," a term referring to scams in which creators abandon a project and take investors' money with them.
Was Insider Trading Behind $HAWK’s Rapid Decline?
Despite Welch's initial claims that the memecoin was intended to bring her closer to her fanbase, there is growing suspicion about the involvement of insiders in the price drop.
Analysts suggest that “sniping” — where a small group of investors buy large amounts of tokens early on and later sell at a profit — could be the cause of the crash.
Bubblemap, a tool that tracks token distribution, revealed that 96% of the total $HAWK supply is held by a small group of wallets.
One of these wallets reportedly bought 17.5% of the supply just seconds after launch, then sold off a significant portion for a profit of $1.3 million.
Welch’s management team has denied any wrongdoing, insisting that no team member had sold tokens and that they had tried to prevent sniping by implementing high fees in the early stages of the launch.
Despite these claims, scepticism remains high, with critics pointing to the heavily concentrated supply as evidence of potential manipulation.
Hailey Welch’s Reassurances Fail to Calm Investors
In a public statement, Welch defended the launch, describing it as a way to engage with her community and create a “fun and secure” platform for fans.
She added,
“It not only empowers my fans but also eliminates the confusion posed by scammers who are constantly releasing unauthorised coins without approval of my name and likeness.”
However, her claims have done little to ease the growing concerns.
Many investors are questioning whether the launch was, in fact, a poorly executed attempt at a genuine community-building initiative, or whether it was part of a much larger scheme to profit from a meme-driven frenzy.
One X user joked, “She’s gonna have to Talk Tuah judge soon,” referencing her viral spitting meme, while another quipped, “She can spit behind bars — sure the guards would enjoy,” highlighting the mounting public anger.
Legal Action and Calls for Accountability
The fallout from the $HAWK crash has prompted calls for legal action.
Crypto investor Scooter has already taken steps to file a formal complaint, urging others to join him.
A prominent law firm, Burwick Law, has also weighed in, offering to represent those who believe they were duped by the token’s collapse.
The possibility of legal repercussions is gaining traction, with many questioning whether Welch or those behind the token could face criminal charges for their role in the crash.
Some have even coined the term "Jail-Tua," suggesting that she could be held accountable for the losses suffered by investors.
Was This Just a Meme Gone Wrong?
Despite the dramatic crash, $HAWK has managed to stay in the media spotlight.
Currently the token is trading at $0.00001480, with its market cap sitting at $56,000 and a 24-hour trading volume of $1.9 million.
Some investors remain hopeful that the token could bounce back, while others are readying themselves for a long legal battle.
The rapid rise and fall of $HAWK raises broader questions about the stability of memecoins and the growing number of scams within the crypto space.
While creators like Hailey Welch may have intended to connect with their communities, the potential for manipulation and insider trading remains a significant concern.
The situation is still developing, and many are waiting to see how legal actions will unfold in the coming weeks.
Gain a broader understanding of the crypto industry through informative reports, and engage in in-depth discussions with other like-minded authors and readers. You are welcome to join us in our growing Coinlive community:https://t.me/CoinliveSG
Add Comment
LoginLeave your comments
0 Comments
Earliest
Load more comments
Related News
- Anais
Shop and Earn SOL: Gemini’s Solana Card Introduces Auto-Staking Rewards Up to 6.77% Back on Everyday Purchases
Gemini has launched a Solana-themed credit card that lets users earn SOL rewards and automatically stake them for up to 6.77% APY. The card offers no fees and supports instant payouts in over 50 cryptocurrencies, combining lifestyle partnerships with crypto rewards.
WeatherlyEthereum Attracts Over 16,000 New Developers in 2025 While Solana Surges in Growth and Bitcoin Lags Behind
Ethereum continues to lead blockchain development, gaining more than 16,000 new developers between January and September 2025. Solana’s developer base is expanding rapidly, though some figures may be underestimated due to incomplete reporting.
WeatherlyDota 2 YouTube Channel With 1.27M Subscribers Hijacked To Promote Fake Solana Meme Coin: How Secure Are Verified Accounts Against Scams?
The official Dota 2 YouTube channel was briefly hacked to promote a fake Solana token called dota2coin, livestreaming the scam to thousands of viewers. A separate esports partner, PGL, was also hacked to stream a fake Bitcoin giveaway, but no user accounts or personal data were compromised.
WeatherlyStripe Expands Subscription Options with Stablecoin Payments from Over 400 Supported Wallets for US Companies
Stripe has launched a new feature allowing US businesses to accept recurring payments in stablecoins like USDC, USDP, and USDG across multiple blockchains. The system uses smart contracts for easier payments, supports over 400 wallets, and lets companies receive fiat settlements while managing subscriptions from their Stripe dashboard.
AnaisFC Barcelona Instagram Breach Misled Fans, Resulting in Hacker Earning $26,000 From Fake Solana $FCB Coin on Pump.fun
FC Barcelona’s official Instagram account was hacked to promote a fake $FCB token on the Solana blockchain, misleading fans and causing potential financial losses. The token briefly surged to $3 million in value before crashing, highlighting risks of scams using popular brands and unverified cryptocurrencies.
JoyPhantom Expands Its Solana Wallet Into Full Money App With CASH Stablecoin and Early Access Phantom Cash Features
Phantom has launched its own stablecoin called CASH, built with Stripe and Bridge, to turn its wallet into a full payments app. It offers free transfers, debit card access and Visa integration, aiming to challenge big players in the growing stablecoin market.
WeatherlyCrypto Shock: Solana Sinks 12% in Two Days, Funding Rates Collapse to Zero
Solana (SOL) investors are on edge after the red-hot altcoin plunged 12% in just 48 hours, wiping out over $112 million in leveraged bets and plunging to $213—its lowest in two weeks.
XingChiGalaxy Digital Snaps Up 6.5 Million SOL in Five Days, Fueling Massive Market Momentum: Is Solana About to Break Out?
Galaxy Digital led a major buying spree, acquiring 6.5 million Solana (SOL) tokens worth $1.55 billion over five days, pushing Solana’s price above $240. The firm also partnered with Multicoin Capital and Jump Crypto to fund Forward Industries’ Solana treasury strategy, driving strong investor interest and boosting the company’s shares.
WeatherlySolana Jumps 30% in a Month as Pump.fun Creators Pocket $19 Million in One Week: Will This Surge Keep Going or Fizzle Out?
Pump.fun has brought back its Solana livestreaming feature after a 2024 shutdown caused by unsafe broadcasts, including staged self-harm. With stricter moderation and a new revenue-sharing model, the platform is rapidly attracting creators and generating millions in weekly fees.
Joy
More news about hailey welch cryptocurrency
More news about hailey welch cryptocurrency
Cryptocurrency APT Intelligence: Uncovering the Lazarus Group’s Intrusion Methods
Looking back at this investigation, we not only revealed the Lazarus Group's attack methods, but also analyzed its use of a series of tactics such as social engineering, vulnerability exploitation, privilege escalation, intranet penetration, and fund transfer.
JinseFinanceElon Musk Denies Development of X Cryptocurrency
In a recent statement, Elon Musk, the head of the popular X app (formerly known as Twitter), addressed rumors about the platform's potential creation of its own cryptocurrency.
DavinGameStop to Discontinue Cryptocurrency Wallets
The removal of its iOS and Chrome Extension wallets from the market is scheduled for November 1, 2023, although customers will still be able to access their wallets until October 1.
Coinlive The Global Rush for Cryptocurrency and Blockchain Adoption
Unprecedented worldwide adoption of cryptocurrencies and blockchain technology is being driven by significant investments.
NulltxThe Cryptocurrency Market Is Gaining Momentum as BTC and ETH Recover
The 24-hour trading volume has increased by 19% for BTCUSD, reaching $59 billion, and 32% for ETHUSD, reaching $20 billion.
NulltxLBank Cryptocurrency Exchange Review (2022)
NulltxHuobi Global Cryptocurrency Exchange Review (2022)
NulltxCryptocurrency Firm Babel Finance Strikes Debt Agreement With Counterparties
The cryptocurrency lending platform Babel Finance finally reached a debt agreement with counterparties. Before now, the firm had experienced some ...
BitcoinistLBank Exchange Will List HAILEY (HAL) on June 23, 2022
INTERNET CITY, DUBAI, Jun. 21, 2022 – LBank Exchange, a global digital asset trading platform, will list HAILEY (HAL) on ...
BitcoinistNetflix's Crypto Scam Documentary Draws Strong Community Response
Viewers of the documentary, especially those who knew the full story, resonated with the founder's conspiracy theory of faked deaths.
Cointelegraph