While the recent rise in the cryptocurrency market has put extra money into the pockets of industry players, Ol' Saint Nick is preparing to put coal in some of their stockings.

From controversial founders to outright scammers, several major figures in the cryptocurrency space have made it to Santa Fe's 2024 "naughty" list.

here Decryption Our picks for the seven naughtiest cryptocurrencies this year:

Hook Toah Girl (Hayley Welsh)

Internet sensation Hailey Welsh, also known as the "Hawk Tuah" girl, catapulted to stardom earlier this month when she announced the launch of her meme currency HAWK.

But Welch's cryptocurrency debut took a sideways turn shortly after HAWK's launch, with cryptocurrency investors noting that a token sale had taken place. All the main signs of an insider scam.

Hawk-eyed traders pointed out that the Welsh team owned between 80-90% of HAWK supply on launch day, which could allow them to manipulate the price of the token.

Welch's HAWK token had a market cap of $490 million shortly after its debut in the first week of December. However, its price quickly dropped to less than 5% of its initial value within a few hours of its launch.

He has a law firm She filed a lawsuit against her business partners Due to the collapse, she emerged from a two-week social media blackout shortly afterwards - to say she was working with lawyers, and to claim she... He wasn't responsible for the mess.

Ryan Selkis

Masari founder Ryan Selkis It sparked controversy and sparked drama Inside the crypto community in 2024.

From criticizing his political opponents to provoking another US civil war, Selkis's comments leading up to the 2024 US presidential election ran counter to the efforts of others to create a better public image of the maturing digital asset industry.

His heated rhetoric on X (formerly known as Twitter) led to his departure from Messari when things apparently became too heated for his teammates. Selkis ultimately got what he wanted with the re-election of Donald Trump, but some of his tactics in encouraging that shift put him squarely on Santa's naughty list this year.

Jonathan and Tanner Adam

Jonathan and Tanner Adam may not be household names, but their alleged crimes are certainly on Santa's radar — and the SEC's, too.

The husband claims He led a Ponzi scheme focused on cryptocurrencies Which scammed more than 80 investors out of a total of $60 million, according to court filings. Under the scheme, investors were told that their money would be placed in a lending pool that would fund “fast loans” to complete arbitrage trades identified by a special trading bot.

However, the SEC claims that the lending pool as described to investors never existed. Instead, the duo allegedly used those millions to support their lavish lifestyles, spending nearly half a million dollars alone on a variety of luxury cars.

Gary Gensler

Gary Gensler is The much-abused Chairman of the Securities and Exchange Commission Who led the regulator's charge against digital assets During the Biden administration.

Under Gensler, the SEC followed ““Organization by Implementation Model.” To rein in the unwieldy cryptocurrency industry, leading to an unprecedented number of lawsuits filed by the SEC against major digital asset companies such as Coinbase, Krakenand US.

In 2023, the SEC took a total of 46 crypto-related enforcement actions, a 53% increase from 2022. According to Cornerstone Research. This is also a record for the agency since 2013. But much of that may be for naught with Gensler announcing plans to resign in January as Trump takes office. Most cryptocurrency industry supporters are not sad to see him go.

Eli Regalado

Pastor Eli Regalado allegedly defrauded religious parishioners at his church in Denver out of more than $3 million by selling a token called INDXCoin, according to The Guardian. Colorado Department of Securities. However, the priest denies being entirely wrong in this scheme. His justifications: The Lord made him do it.

Whether God whispered in his ear or not, one thing is clear: Regalado was living a luxurious life on his followers' money. The pastor purchased luxury gadgets and other items from his ill-gotten gains from the sale of INDXCoin, according to charges filed by the Colorado Securities Commissioner earlier this year.

Craig Wright

They say imitation is the sincerest form of flattery, but in the case of Craig Wright and his claims to be the creator of Bitcoin, it's also a crime.

In the case of Crypto Open Patent Alliance (COPA) v. Craig Wright, it was Wright He was convicted in March From lying about being the famous inventor of Bitcoin, Satoshi Nakamoto. A British court also ruled that there was "overwhelming" evidence of Wright's involvement Fabricated documents and lied about the situation During the trial. Wright's story has been going on for years, but the result earned him a spot on Santa's naughty list this year.

Sahil Arora

Cryptocurrency influencer and celebrity Sahil Arora has fallen from favor with investors and Santa in 2024.

This is because the famous cryptocurrency promoter has made between $2 million and $30 million through the exploit Its connections to many famous coin projectsAccording to analyzes conducted by blockchain investigators on the chain ZackXBT Crypto Data Corporation Bubble maps.

(Arora He denied any wrongdoing In an exclusive interview with Decryption in May.)

So, how did Arora become so rich? Well, it's not entirely clear, but many celebrities and investors have something to say about it.

In May, Caitlyn Jenner said Aurora "cheated" on her big time by running away with... JENNER meme coin revenue Help launch.

R&B singer Jason Derulo He was followed up with his own meme currency and similar allegations against Arora, which Arora later told Decryption It wasn't what it seemed. The controversy was "orchestrated" and all "Part of the scriptHe said.

As if that double dose of celebrity drama wasn't enough, investors also accused Arora of raising as much as $380,000 from the pre-sale of an Iggy Azalea-themed meme coin project that he launched on Pump.fun earlier this year. Shortly after the preview, investors in the project claimed they had done just that Did not receive any codes They promised. Meanwhile, at least some funds from the pre-sale portfolio appear to have been moved, according to SolScan data Show.