Hailey Welch, known as the Hawk Tuah girl, is facing severe backlash after her memecoin, $HAWK, crashed shortly after launch, leading to substantial financial losses for investors. The coin, which started with a Market cap close to half a billion dollars, saw its value plummet by 95% after an initial surge. Investors accuse her of orchestrating a pump and dump scheme, as a significant amount of tokens were concentrated in a few wallets. While Welch denies any wrongdoing, claiming she never intended to defraud her fans, many investors are planning legal action. A crypto analyst criticized the launch as poorly managed and indicated that insiders were prioritized during the token distribution.
Hawk Tuah Girl Faces Legal Action Following Crypto Meltdown
In a shocking turn of events, Hailey Welch, known as the Hawk Tuah Girl, is in hot water after the launch of her memecoin $HAWK resulted in nearly $500 million in losses for investors. Fans and investors are accusing her of orchestrating a classic pump and dump scheme.
The $HAWK token launched on the Solana blockchain and initially skyrocketed by 900 percent. However, within a short span, it plummeted by a staggering 95 percent. Data from blockchain analyst Bubblemaps revealed alarming trends, showing that 96 percent of the tokens were controlled by a small group of wallets, suggesting coordinated trading activities.
Investors have come forward, claiming that Welch and her team exploited her viral fame to create a buying frenzy before cashing out, leaving many fans devastated. Welch’s attorney has denied the allegations, stating that there was no intention to deceive investors. During an audio event on X Spaces, Welch and her team faced numerous challenges and accusations from angry investors, many of whom promised to file lawsuits against her.
Investigators are diving deep into the situation, with crypto expert Stephen Findeisen highlighting the chaos surrounding the token’s launch. He criticized the insiders who were allowed to sell 17% of the tokens without a lock-up period while only 3% was available for public trading.
As the story unfolds, both Welch and her legal representatives are scrambling to address the backlash. This incident underscores the risks associated with cryptocurrency investments, particularly when celebrity endorsements are involved.
Tags: Hawk Tuah Girl, Hailey Welch, $HAWK, Crypto Controversy, Memecoin Crash, Legal Action.
What is the Hawk Tuah Coin scam?
The Hawk Tuah Coin scam refers to a situation where fans lost money after investing in a cryptocurrency linked to Hawk Tuah, a popular social media personality. Many people felt deceived when the coin’s value crashed.
Did the Hawk Tuah girl intend to scam her fans?
According to her attorney, Hawk Tuah did not mean to scam anyone. They claim that the crash was unexpected and that she always intended to support her fans.
How did people lose money in the Haw Tuah Coin scam?
Many people invested money in the Hawk Tuah Coin, believing it would increase in value. When the value suddenly dropped, many investors lost a lot of money, leading to claims of a scam.
What should I do if I lost money in this scam?
If you lost money in the Hawk Tuah Coin scam, consider seeking legal advice. You can also report the incident to consumer protection agencies to help get assistance.
How can I protect myself from future crypto scams?
To protect yourself from future scams, always do thorough research before investing. Look for information about the project and check if it is backed by reliable sources. It’s also wise to avoid investing more than you can afford to lose.
