Part 3/8:
Welch’s downfall can be traced back to the infamous launch of her cryptocurrency, known as Hawk TOA, which inexplicably tied itself to sexual innuendos and internet memes. While she had gained popularity as a digital personality, many investors questioned the logic behind purchasing a coin that was based on a joke. Unfortunately, the situation turned sour when reports revealed that a “rug pull” had occurred — a term used to describe a fraudulent maneuver where the developers take the funds and run, leaving investors with worthless coins.