Rug Pull

Argentina’s Milei Faces Impeachment Threat After Crypto Crash

Argentina’s opposition is threatening impeachment proceedings against President Milei following the swift collapse of a cryptocurrency he promoted. The situation has sparked intense debate and fueled existing concerns about his leadership. The controversy centers around the alleged “pump and dump” scheme surrounding the coin, leaving many investors with significant losses.

The speed and scale of the cryptocurrency’s crash have raised serious questions about whether the President’s endorsement was a calculated move to personally profit, a reckless gamble with the public’s trust, or a result of negligence. The accusations of a “rug pull,” where developers abandon a project, taking investors’ money with them, are particularly damning.… Continue reading

Hawk Tuah Meme Coin Creator Accused of Rug Pull

Hailey Welch’s newly launched $HAWK meme coin, based on her “Hawk Tuah” meme, experienced a dramatic rise and fall in value, plummeting from a $500 million market cap to $60 million within minutes. This sharp decline has been attributed to a “rug pull,” where insiders allegedly sold off large holdings, devaluing the coin for other investors. The incident sparked considerable online backlash, with some blaming Welch and others criticizing investors for their choices. Welch denies involvement in the coin’s management, stating its purpose was to connect with fans and combat unauthorized coins using her likeness.

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