Hailey Welch, known as the Hawk Tuah Girl, faces allegations of running a crypto scam after her $HAWK coin's value plummeted from $500 million to below $60 million shortly after launch.
A viral sensation known as the "Hawk Tuah Girl," Hailey Welch, is facing serious allegations following the disastrous launch of her cryptocurrency, $HAWK. Initially soaring to a market cap of nearly $500 million, the coin's value plummeted by 95% within hours, leading to accusations of a pump-and-dump scheme and potential legal repercussions.
Hailey Welch gained fame through a viral video that showcased her unique personality and advice, leading her to quit her job and pursue a career as an influencer. This newfound fame allowed her to launch a podcast and engage in various endorsement deals.
On December 5, 2024, Welch launched her cryptocurrency, $HAWK, on the Solana blockchain. The coin experienced an explosive start, with its market capitalization reaching nearly $500 million within minutes. However, this meteoric rise was short-lived, as the value collapsed to approximately $25 million just hours later.
The rapid decline in $HAWK's value has led to widespread accusations against Welch and her team. Critics have labeled the launch as one of the most disastrous in recent memory, with many alleging that it was a premeditated pump-and-dump scheme. In such schemes, promoters artificially inflate the value of an asset before selling off their holdings, leaving other investors with worthless assets.
Key points of concern include:
As the fallout continues, investors have begun filing complaints with the Securities and Exchange Commission (SEC). Legal experts are exploring potential lawsuits against Welch for misleading investors, which could lead to charges related to securities fraud.
In response to the allegations, Welch has publicly denied any wrongdoing, asserting that neither she nor her team sold any tokens. She claimed that they implemented high fees to deter snipers—investors who buy large quantities of coins to sell for quick profits—during the launch.
The online community has reacted strongly to the situation, with many calling for accountability. Social media users have expressed their outrage, demanding justice for those who lost money in the $HAWK debacle. Some comments reflect a belief that Welch should face legal consequences, while others speculate that she may not have been fully aware of the actions taken by her team.
As the investigation unfolds, the case of the Hawk Tuah Girl serves as a cautionary tale about the risks associated with celebrity-endorsed cryptocurrencies and the potential for fraud in the rapidly evolving digital currency landscape.
