Haliey Welch Addresses $HAWK Cryptocurrency Crash and Legal Fallout
Hawk Tuah Girl, Haliey Welch, has publicly addressed the fallout from the collapse of her cryptocurrency, $HAWK, after a two-week absence from social media. The meme coin, launched on the Solana blockchain, initially reached a market cap of $500 million but fell to $25 million, a 95% loss. Investors accused Welch's team of a pump-and-dump scheme and insider trading, allegations the team denies.
Data from Bubblemaps indicates that insider wallets and snipers controlled 80% to 90% of HAWK’s supply at launch, acquiring large portions quickly.
Source: Bubblemaps
In a statement on Twitter, Welch acknowledged the situation and confirmed cooperation with legal representatives for affected investors, aiming to ensure accountability and seek resolution.
I take this situation extremely seriously and want to address my fans, the investors who have been affected, and the broader community. I am fully cooperating with and am committed to assisting the legal team representing the individuals impacted, as well as to help uncover the…
— Haliey Welch (@HalieyWelchX) December 20, 2024
Although Welch is not named as a defendant in the lawsuit, affected investors are encouraged to contact Burwick Law. The lawsuit alleges that the creators, OverHere Ltd, executive Clinton So, and promoter Alex Larson Schultz mishandled the token's launch and sale.
Court Ruling Exposes $HAWK Fraud
A December 19 court ruling revealed illegal promotion and sale practices related to $HAWK, identifying the Tuah The Moon Foundation as responsible for managing the coin's sale funds. The ruling stated:
“[The lawsuit] arises from the unlawful promotion and sale of the Hawk Tuah cryptocurrency memecoin, known as the '$HAWK' token, which Defendants offered and sold to the public without proper registration.”
While Welch is not directly implicated, she faced scrutiny after avoiding investor questions during a December 5 public stream. Her silence ended with the recent Twitter statement, yet the controversy persists. Her Instagram account remains inactive since December 3, and her podcast account last posted the following day.
What’s Next for Hawk Tuah Girl?
The cryptocurrency crash has overshadowed Welch's prior success as an internet personality. Her ventures demonstrated her ability to leverage fame, but the $HAWK incident serves as a cautionary tale about volatility in the crypto sector. Despite these challenges, Welch is focused on finding answers and holding responsible parties accountable, raising questions about whether she can restore trust or if damage has already occurred.