$HAWK Token Crashes After Launch
- Memecoins
• The $HAWK token launched on December 4, 2024, heavily hyped by Welch and her team. Within minutes to hours, it surged to a peak market cap of roughly $490–500 million due to intense retail FOMO. • Almost immediately after peaking, the token collapsed by approximately 90–95%, with some reports placing the crash within 20–30 minutes. • The crash wiped out billions of dollars in paper value, leaving most holders with massive losses. • On-chain analysis (including Bubblemaps) revealed extreme supply concentration red flags. • Roughly 96–97% of the token supply was controlled by a small cluster of insider wallets (team, pre-sale investors, KOLs). • Only an estimated 3–4% of the total supply was genuinely available to the public at launch.
Incident Details
- Type
- RUG PULL
- Funds Lost
- Unknown
- Status
- Ongoing
Class action lawsuite was filed. Became yet another cautionary tale about celebrity tokens.