cryptojournalist
YouTuber Coffeezilla is frustrated with the exaggerated claims about influencer Hailey Welch’s HAWK memecoin launch. In a Dec. 6 post, he debunked rumors, saying, “She didn’t rug $500M, and she didn’t pocket $50M. Let’s stick to the facts.”
What Happened?
HAWK launched on Dec. 5, spiked in value, and then crashed, sparking accusations of insider trading and sniper wallets**. Coffeezilla clarified that while the team likely made a few million from presales, Welch hasn’t significantly profited. Her tokens are locked for a year, and she’s received just $125,000 so far.
No Legal Action Yet
Despite rumors, Welch hasn’t been sued. A U.S. law firm, Burwick Law, invited victims to explore legal options, but no lawsuits have been filed. Coffeezilla urged people to stop spreading misinformation and focus on verified facts.
Welch Speaks Out
Welch defended herself in a Dec. 5 post, saying her team didn’t sell tokens or give free ones to influencers. She also mentioned implementing high fees at launch to prevent sniping but acknowledged challenges in controlling the process.
**Sniper wallets: Automated bots or accounts used to manipulate token launches by buying large amounts quickly, often distorting the market.
