Hawk tuah gets sued for crypto rug pull
(twitter.com)
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Let's be honest if you bought a coin from a girl who is only famous cause she said she spits on dicks you deserve every single bad thing that happens to you and I feel no pity
Agreed. She also needs to be punished for the scam.
Everyone involved did reprehensible things.
Nothing will befall her. The case will be swiftly kicked out of court. For one, pump-and-dump scams are very, very illegal ... with stocks. Which is why crypto coins were invented, so scammers could pull off the same pump-and-dump scams with "not stocks" shitcoins.
THAT is the reason crypto was invented. For pump-and-dump scams. There's no debate about it. That's what they fucking are. A huge scam.
In a way. I'm sure the first guy was like "I'm going to invent a currency and own half of it." Which makes it the same as every other currency. If you use dollars, it's just a long pump and dump scam.
Speculators ruin everything.
I doubt if she had much to do with the scam. It was probably some grifting conmen that came sidling up with, "hey, here's a great idea!" and she's like, "sure, sounds awesome, I'm in!" and then they rob her and everyone else blind.
There is a model where celebrities endorse shitcoins for a set amount of real money (U.S. Dollars). Trump endorsed some shitcoin before the election, was paid for it, but it was only available in Europe. She definitely made money from it, if not from people pumping the value or from an endorsement fee. If it was just an endorsement, they can't pin for anything.
Right and that money still has to be taken from her to make sure she doesn't do it again. Whether the victims are rubes or not. You always confiscate the proceeds of illegal activity and refund the victims when you can. Even when they left their car door open.
Oh I don't doubt that she made some money, but I doubt that she had the knowledge to orchestrate the con.
No fucking way. She doesn't even know how to make her morning coffee. She was approached by people who knew exactly what they were doing and going to do. She isn't named in the complaint because the lawyers know better. At most she'll be deposed for what she does know, but that's it.
If you buy any "coin" you are retarded.
The people who sell "coins" are still committing securities fraud. They should be in jail. We have enough problems without these economic vandals running around.
Agreed. The traits that would make a cryptocoin a good medium of exchange and the traits that would make a cryptocoin a good speculative investment are not the same, and the people promoting cryptocoins regularly focus on the latter. Anyone who promotes a coin and isn't talking about strong adoption, low gas fees and quick transaction verification is selling it as a security.
I imagine the elites and other businesses who love to do these type of abuses are banking on everyone going "lol you bought dick girl's coin? get fucked nerd."
Because she put an easily dismissable and hateable face on something they do constantly, but its still a face and could blow back on them through either legislations/precedents passed or increased awareness of the game.
If this were done with a stock, it would be deemed a "pump-and-dump scheme" and everyone involved would have already been tried, convicted and sent to federal prison in a single afternoon.
But crypto ain't that, which is why it was invented. To have a technically legal means of baiting people into another pump-and-dump scam. There's no case law that applies to crypto, and if they bought it on an exchange, they likely agreed to an arbitration and indemnity clause that waives their right to sue. Like you said, "You bought dick girl's coin? Get fucked, nerd."
And its a really dicey place because half the value of crypto is to keep the Law and Government's hands off of it as much as possible.
But then that also leaves people very defenseless against predatory behavior like this, to a point where its a legit society level concern to let happen.
I don't have a good answer there, but its not an easy one side or the other debate.
Personally, I hate crypto. It's a giga scam and nobody will convince me otherwise. It's just dudes in the know "rug pulling" other dudes who think they know. And for what? Dollars. All that circus for "coins" that are bought, valued and sold for Dollars. At the end of day, none of it matters if you can't trade them in for good ol' American Greenbacks!
A bag of subway tokens has more value than your average shitcoint.
They are all just scams of trying to be the one guy who manages to screw a different guy over for profit. Its the same as the Stock Market Sharks who destroy entire companies for a quick buck, but this time the barrier for entry is low enough that regular guys can get in on it.
As you said, its all worthless until you can use them as currency like a Dollar, which leaves mostly just Bitcoin as anything but scams for chumps. And no one in these circles seems to be interested in "legitimizing" them in that way either.
This is minor league shit for elites to be involved in. Why rip off dick-girl fans when you can rip off everyone? Who don't get a choice to use the currency that you manipulate.
It is, but its also the type of thing that gets legal precedents set that can be called upon in the shit elites do get involved in later if someone tries to take them on.
Same ol rules... it's not illegal when they do it.
A fool and his money are soon parted
Our fiat banking system guarantees that anyone who holds cash loses 50% each decade.
So it forces everyone to speculate.
It's a debt based monetary system where money sitting still loses value as you'd expect. Cash is only meant to be gotten to be lent out or spent. The problem is bigger than just "has an inflation rate."
Imagine the point of like Robin Hood. It's for people who have smaller chunks of money to be able to lend it out and get a return. You don't want to have currency in this system, you want a bunch of people to owe you. Or even to owe a bunch of people if you have assets to back it up.
Fair point.
Not just that, look at the people AROUND her as wasn't it Logan Paul that set this up for her? Who trusts ANYTHING that guy is involved with?
Title is misleading https://nypost.com/2024/12/19/business/murky-group-behind-hawk-tuah-girl-haliey-welchs-failed-meme-coin-sued-by-investors/
A bunch of people crying they were the ones left holding the bag when the whole point of buying the coin was to get out before the rug pull. No sympathy for them.