Hailey Welch, known as the ‘Hawk Tuah’ girl, is currently in the spotlight after her newly launched memecoin, Hawkcoin ($HAWK), crashed dramatically just hours after its big debut. Launched on December 4, 2023, the coin initially reached a staggering market cap of $490 million before plummeting over 90%, leaving many investors in a tough spot. This major event has resulted in a flurry of lawsuits, and Welch has now found herself cooperating with legal teams to address the fallout.
The Woman Behind a Viral Meme
Hailey Welch first gained fame from a viral video where she used a catchy phrase: “hawk tuah.” This video resonated with many viewers and quickly turned into a trending catchphrase. Following its success, Welch launched merchandise and a podcast, expanding her brand and audience. But things took a sharp turn when she jumped into the world of cryptocurrency.
What Happened With Hawkcoin?
Welch launched Hawkcoin hoping to build on the success of her internet fame. At first, excitement took over, and the coin soared in value. However, less than a day later, things took a bad turn as its value dropped fast, causing major concerns among her supporters and investors. The rapid decline has led to accusations against Welch and her associates, with some claiming it was a ‘pump-and-dump’ scheme.
A Wave of Accusations and Legal Actions
Almost immediately after the crash, lawsuits began surfacing. Investors alleged that they were deliberately misled and that there was significant insider manipulation involved in the coin’s distribution. The complaints mention that up to 90% of the tokens were controlled by insiders, making it questionable for regular investors. As the backlash grew, Welch was urged to address the situation.
Welch’s Response
In the face of mounting pressure, Welch has stated that her team did not engage in any foul play and is fully cooperating with the investigation led by Burwick Law. They are looking into the claims and trialing the matter for anyone who lost money from the cryptocurrency experiment. Welch emphasizes that she never sold any tokens personally and has directed her followers to get in touch with legal advice.
Social Media Silence and Speculation
Following the chaos of Hawkcoin’s rise and fall, Welch went quiet on her social media accounts, which fueled more speculation about her well-being. Some reports even included troubling rumors about her mental health. However, after a two-week break from public sight, she has started to re-engage, trying to inform and assist those impacted by her coin’s collapse.
The Future of Hawk Tuah and Hawkcoin
As of now, Welch’s future feels uncertain, and many are keeping a watchful eye on the legal proceedings surrounding her. The Hawkcoin saga serves as a reminder of the risks associated with venturing into the world of meme-based cryptocurrencies, especially those heavily promoted by celebrities. Investors are left feeling the sting of loss and hope for clarity and justice as they await more developments. For now, the cryptocurrency world holds its breath as the truth unfolds.
