Crypto has been in the news again, mostly because of the following story from Web3 Is Going Great! "Hawk tuah" memecoin immediately crashes
Who could have guessed that buying up a token based around the long-past-its-expiration-date hawk tuah meme might turn out to be an unwise investment? Haliey Welch, the originator of the raunchy catchphrase, launched a memecoin that she insisted was not a cash grab but a "good way to interact with her fans". (The "interaction" in question here was limited to " fans give money", because she had no other specific plans for the token).
Not surprisingly it crashed almost as soon as it started. It is being called a "pump-and-dump" scam. My guess is that Haliey Welch will turn out to be the victim of the people who set up the coin.
But it isn't the only recent problem with crypto; it is just the one getting all of the press.
- Official Solana JavaScript library compromised in supply chain attack, at least $184,000 taken
- Clipper [Decentralized Exchange] suffers $450,000 hack
- Crypto exchange XT.com suffers $1.7 million hack
- 13-year-old rug pulls crypto token, then faces retaliation
That is the list from Web3 Is Going Great back to November 20th. Losses on Crypto, as tracked by that site, are approaching 80 billion dollars.
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