‘Hawk Tuah’ girl’s Memecoin faces legal heat.
Haliey Welch, famously known as the ‘Hawk Tuah’ girl, is embroiled in a crypto controversy.
Hailey’s rise to fame highlighted.
Welch gained fame from a viral YouTube interview in June 2024, coining the phrase “hawk tuah.”
She capitalized on her viral status by launching merchandise and a podcast, ‘Talk Tuah.’
In November 2024, she introduced a dating advice app, Pookie Tools, expanding her digital footprint.
Her ventures showcased her entrepreneurial spirit, leveraging her internet fame.
Downfall of $HAWK detailed.
However, the December 4 launch of $HAWK marked a downturn in her ventures.
The coin’s market cap soared to nearly $500 million before crashing within hours.
Critics accused Welch and her team of orchestrating a pump-and-dump scheme.
Welch denied these allegations, stating her team hadn’t sold any tokens.
She emphasized efforts to prevent early profiteering through high initial fees.
Despite her statements, investor losses fueled skepticism and legal action.
Welch’s absence from social media post-crash led to speculation about her whereabouts.
Fans noted the lack of new podcast episodes and her silence on the controversy.
Hailey’s statement confirmed.
On December 20, Welch broke her silence with a post on X (formerly Twitter).
She expressed commitment to cooperating with legal teams and assisting affected investors.
Welch urged impacted individuals to contact Burwick Law for support.
She stated, “We tried to stop snipers as best we could through high fees at the start of launch on.”
The controversy has sparked broader discussions on influencer-led cryptocurrency ventures.
Critics question the ethics and legality of such promotions without proper regulation.
Welch’s situation underscores the risks associated with celebrity-endorsed financial products.
Her memecoin, $HAWK, is at now the center of a lawsuit following a dramatic value crash.
Lawsuit against Hailey Welch explained.
Investors allege the coin’s value plummeted over 90% shortly after its launch.
The lawsuit targets Tuah The Moon Foundation, OverHere Ltd., Clinton So, and promoter Alex Larson Schultz.
Welch herself isn’t named as a defendant in the legal proceedings.
The plaintiffs claim the defendants exploited Welch’s celebrity to create investment frenzy.
They argue this led to significant losses for first-time cryptocurrency investors.
One investor reportedly lost up to $70,000 due to the coin’s collapse.
The lawsuit doesn’t accuse the defendants of fraud but of negligence under the Securities Act.
Investors are seeking damages exceeding $150,000, plus additional court-determined amounts.
Hailey’s future hangs in the balance.
As legal proceedings unfold, the crypto community watches closely for outcomes.
Welch’s future endeavors may hinge on the resolution of this high-profile case.
For now, the ‘Hawk Tuah’ girl’s crypto journey serves as a cautionary tale for investors and influencers alike.