Beware of Celebrity-Backed Cryptocurrencies: Lessons from $HAWK
In December 2024, Hailey Welch, known as the “Hawk Toah Girl,” launched $HAWK on Solana. It skyrocketed to $500 million and then crashed to $25 million within minutes, causing massive losses.
Investigations revealed that 96% of the supply was in the hands of a single group, and 89 wallets sold everything at once, suggesting a “pump and dump” scheme. When the truth came out, Welch denied it and then disappeared, claiming she was “tired.”
🚨 Lessons learned:
✅ Don’t trust celebrities – hype doesn’t mean legitimacy.
✅ Check the distribution of tokens – are most of them owned by one wallet? Beware!
✅ Don’t invest because of FOMO – emotional thinking can cost you money.
Be smart, research before investing! 🚀