Law firm speaks out after fans claim ‘Hawk Tuah’ crypto wiped out life savings.
Haliey Welch, the internet’s “Hawk Tuah Girl,” has found herself at the center of a brewing cryptocurrency scandal.
Hailey Welch’s rise to fame highlighted.
Her rise to fame began earlier this year when her “Hawk Tuah” TikTok video went viral, amassing millions of views and catapulting her to influencer status.
The quirky catchphrase turned Welch into a household name on social media, earning her brand deals and a massive fan base.
Riding the wave of her newfound fame, Welch decided to enter the high-risk, high-reward world of cryptocurrency.
Hailey’s crypto venture detailed.
Welch announced the launch of her memecoin, $HAWK, in December, positioning it as a community-driven token inspired by her internet persona.
Memecoins like $HAWK are digital currencies often powered by internet culture and hype but carry significant investment risks due to their volatility.
Despite these warnings, Welch’s celebrity endorsement drew in droves of fans eager to back her venture.
The coin launched on December 4 with an initial market capitalization of $490 million, igniting excitement among investors.
Within minutes, the value of $HAWK began to fluctuate wildly, drawing concerns from seasoned crypto traders.
In a matter of 20 minutes, the coin’s value had collapsed by 95%, plummeting to just $41 million.
Aftermath of crypto scandal revealed.
Chaos erupted as investors realized the scale of the financial losses, with some claiming to have lost their entire life savings.
Blockchain analysis later revealed that insider wallets and sniper bots had manipulated the market.
A single wallet allegedly controlled 17.5% of the coin’s supply and cashed out for $1.3 million in less than two hours.
Welch denied any foul play, blaming the rapid crash on external traders and the prevalence of sniper bots.
On social media, she insisted her team hadn’t sold any tokens and claimed they did their best to mitigate market manipulation.
Her statements did little to appease her outraged fanbase, many of whom accused her of orchestrating a “rug pull.”
A rug pull is a crypto scam where developers profit by dumping their holdings after artificially inflating the token’s value.
Crypto experts have weighed in, stating that while there’s no definitive proof yet, the blockchain data raises red flags.
Blockchain data shows over 80 wallets profited significantly from $HAWK without having purchased tokens, raising further suspicions.
Meanwhile, frustrated fans are flooding social media with calls for Welch to face criminal accountability.
Law firm’s call for accountability unveiled.
Burwick Law and other legal firms quickly stepped in, advising affected investors to come forward with their claims.
According to these firms, Welch and her team could face serious allegations, including securities fraud and market manipulation.
The Securities and Exchange Commission (SEC) could pursue civil charges if $HAWK qualifies as a security under the Howey test.
Criminal charges, such as wire fraud or money laundering, could also be on the table if financial misconduct is uncovered.
For now, Welch has avoided formal investigations, but the pressure is mounting as new allegations surface.
The fallout from $HAWK’s collapse has tarnished Welch’s reputation, leaving her influencer career hanging in the balance.
Experts say this case highlights the dangers of celebrity-backed cryptocurrency projects and the lack of regulation in the space.
Memecoins, despite their viral appeal, often leave inexperienced investors vulnerable to significant financial losses.
Burwick Law has pledged to seek justice, describing this as another cautionary tale in the volatile crypto market.
“We aim to hold those responsible accountable,” the firm said in a statement, urging victims to share their experiences.
The scandal unfolds.
As $HAWK hovers at a fraction of its initial value, Welch’s next moves are being closely monitored by fans and authorities alike.
Whether this was a case of poor planning or a calculated scheme, the consequences for Welch—and her investors—are only just beginning.