Hayden Davis has just introduced a new token called $WOLF, even as he has been subject to legal attention and an Interpol Red Notice for his role in previous token scandals.
The $WOLF token started getting attention after the WallStreetBets (WSB) community hyped it, rising to a market capitalization of $40 million before suddenly falling apart in what appears to be a rug pull. On-chain experts discovered that 82% of supply rested with a small list of wallets, indicating insider manipulation.
Davis has also been known in the past to be behind $LIBRA and $MELANIA, two heavily promoted memecoins that have subsequently collapsed.
Backed by Argentine President Javier Milei, the token lost $99 million in liquidity from its pools during what analysts reported was an orchestrated exit scam. A fleeting coin also associated with Davis, having on-chain records with indications that its team and $LIBRA are connected.
Blockchain data analytics company Bubblemaps, together with Coffeezilla, initially exposed Davis’ role in the tokens and cautioned that he might try launching another one. This recent probe affirms that he is the mastermind behind $WOLF, although he tried concealing his identity.
After the $LIBRA debacle, Argentine attorney Gregorio Dalbon demanded an Interpol Red Notice on Davis, hoping that he would be arrested and extradited. Regulators and cryptocurrency regulators are watching him closely in the meantime.
The launch of $WOLF serves as a reminder of the danger of investing in influencer-supported memecoins. With Davis’ background of rug pulls, market manipulation, and legal issues, investors are encouraged to be careful and do diligent due diligence prior to participating in such projects.
Also Read: DOJ Targets $LIBRA Crypto Scam as Investors Lose Millions
