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Hawk Tuah Girl’s Crypto Coin Fiasco: What Went Wrong With $HAWK

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Hawk Tuah Girl’s Crypto Debut Takes a Dark Turn

Haliey Welch, also known as Hawk Tuah Girl, rose to fame this summer after a viral street interview where she confidently offered graphic sex advice. Since then, she’s carved out a niche as an influencer, launching a podcast and charity, all while building her online presence. However, her latest venture into the world of cryptocurrency, promoting the $HAWK token, has quickly turned into a nightmare — leaving investors furious and wondering if this was just another classic crypto scam.

Despite her successful social media influence and growing brand, Welch’s foray into the volatile world of digital currencies hasn’t gone as planned. What started as a high-flying venture with the promise of huge profits quickly collapsed, sparking accusations of fraud, mismanagement, and a "pump-and-dump" scheme. Here’s a breakdown of what went wrong.

The Rise of $HAWK: A Meme Coin With Big Promises

$HAWK debuted with a bang on the Solana blockchain platform in late October 2024. Created by a team of 18 advisors, including Welch, the meme coin was marketed as the next big thing. Welcoming its association with popular figures like Elon Musk, who had endorsed the rise of Dogecoin, the $HAWK token promised to be an exciting addition to the meme coin market.

The hype surrounding the launch was intense, and the price surged by 900 percent on its first day of trading. At one point, the market capitalization of $HAWK reached nearly half a billion dollars. Investors scrambled to buy in, hoping to catch the wave of what appeared to be a hot new token.

The Crash: From Hero to Zero in Just 24 Hours

However, just as quickly as it shot to the moon, the $HAWK token plummeted, dropping by a staggering 95 percent in value within 24 hours. The crash left retail investors holding the bag, and suspicions began to emerge about potential foul play. Blockchain analysts discovered that 96 percent of the $HAWK supply was concentrated in a single cluster of wallets, suggesting a level of coordination that hinted at insider trading and potential manipulation.

A crypto wallet linked to the developers was able to grab 17.5 percent of the supply, flipping it for $1.3 million in just 90 minutes. Accusations of a "pump-and-dump" scheme — where the developers hyped up the coin only to sell off their positions — quickly spread across the crypto community. As investors began filing complaints with the SEC, the situation looked increasingly bleak for Welch and her team.

Damage Control: A Chaotic Attempt to Address the Backlash

In an attempt to stem the growing tide of criticism, Welch and her team took to X (formerly Twitter) for a public damage control session. During an X Spaces event, Welch’s crypto partners attempted to address the mounting allegations. However, the conversation quickly devolved into a chaotic mess, with crypto analyst Stephen Findeisen (aka Coffeezilla) grilling the team about the missing funds and high transaction fees.

Findeisen was not impressed by the evasive answers from the developers, one of whom, identified as Doc Hollywood, claimed the transaction fees had gone to a foundation in the Cayman Islands. Despite promises to provide further evidence, none materialized. Findeisen didn’t hold back, labeling the $HAWK launch a “scam” and accusing Welch and her team of targeting inexperienced crypto investors to inflate the coin’s value.

In a moment that raised eyebrows, Welch seemed unprepared for Findeisen’s critique and sarcastically dismissed him, saying, “Okay, then why the f*** are you on?” After a tense back-and-forth, she abruptly ended the conversation, leaving many wondering if she fully understood the gravity of the situation.

The fallout from the $HAWK disaster continued to escalate as Welch’s attorney confirmed that she had received a $125,000 advance for promoting the token. Additionally, she was set to receive 50 percent of the net proceeds after expenses were covered. While Welch’s lawyer insisted that she never intended to fleece her fans, Findeisen pointed out significant red flags in the project, including the 17 percent of tokens sold to insiders, which could have set the stage for the price crash.

Findeisen’s video on the situation included screenshots of text messages showing that Welch had been misinformed about the project’s structure, but also raised questions about her own motivations in promoting a project without fully understanding the risks involved. His investigation further exposed the team’s failure to properly protect the interests of her fans and investors.

The Meme Coin Backlash: $TUAH Takes Aim at Welch

In the wake of the disaster, a new meme coin called $TUAH was created in retaliation. The name “TUAH” is a playful nod to Welch’s podcast, “Talk Tuah,” and the phrase "straight tuah prison," referencing jokes about her potential legal trouble. Investors quickly jumped on the bandwagon, attempting to drive up the price of $TUAH to surpass $HAWK’s deflated market cap.

While $TUAH may have been created as a joke, it’s a reminder of the meme-driven nature of the cryptocurrency space — where hype and humor can turn even the most controversial situations into profitable ventures. Unfortunately, many of these projects can result in inexperienced investors losing significant amounts of money.

What’s Next for Hawk Tuah Girl and $HAWK?

While Welch has remained mostly silent on the scandal since the X Spaces session, the situation has cast a shadow over her public image. It remains to be seen whether she will face legal consequences for her involvement in the $HAWK token launch. Some believe that Welch was misled by her crypto partners, while others argue that she should have conducted more thorough due diligence before backing the project.

As the dust settles, one thing is clear: the crypto world remains a volatile and unpredictable space, and Welch’s crypto debacle is a cautionary tale about the risks of influencers jumping into markets without a full understanding of what’s at stake.