Hawk Tuah Girl Breaks Silence on Lawsuit Over $HAWK Crypto Crash
Haliey Welch, the viral sensation known as the "Hawk Tuah Girl," has broken her silence regarding the fallout from the catastrophic collapse of the $HAWK cryptocurrency, a meme coin she helped launch earlier this month. Welch, who gained widespread attention with her viral interview and has since built a massive online presence, faced severe backlash after her crypto project experienced a dramatic crash, causing significant financial losses for investors.
On December 4, 2024, Welch and her partners launched $HAWK, a cryptocurrency tied to her viral catchphrase. Initially, the coin saw a meteoric rise, reaching a market cap of nearly $500 million. However, within hours, the coin's value plummeted by more than 90%, leading many to accuse Welch and her partners of orchestrating a pump-and-dump scheme. In the wake of the crash, a class action lawsuit was filed against the creators of $HAWK, excluding Welch from the direct list of defendants.
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In her first public statement since the fiasco, Welch expressed deep concern over the situation. "I take this situation extremely seriously and want to address my fans, the investors who have been affected, and the broader community," she wrote on X (formerly Twitter). Welch assured her followers that she is cooperating fully with the legal team representing the affected investors. She urged those who had lost money to reach out to Burwick Law, the firm handling the lawsuit. Welch's involvement in the lawsuit appears to be limited to her promotional role, with the lawsuit targeting her partners, including Clinton So and Alex Larson Schultz, who were more directly involved in the coin’s creation and management.
While Welch's role in the coin’s launch was primarily as a figurehead, leveraging her internet fame, the lawsuit alleges that her celebrity status was used to lure unsuspecting investors into buying the volatile $HAWK tokens. The legal team claims that the coin was not registered with the Securities and Exchange Commission (SEC), and they accuse the creators of violating securities laws.
Despite the negative turn of events, Welch remains focused on assisting the legal efforts to uncover the truth and hold the responsible parties accountable. It seems that she was, at least in part, deceived or misled by her partners, as suggested by her statement and the details of the lawsuit. While Welch continues to cooperate with the ongoing investigation, her career as an influencer may have taken a serious hit, though she still maintains a significant following.
The $HAWK incident has sparked renewed debate over the ethical implications of celebrity-endorsed cryptocurrencies, with many questioning the responsibility influencers have when promoting such volatile assets. Although Welch’s involvement in the $HAWK project may have been more passive than some investors initially thought, the incident serves as a cautionary tale for both creators and investors in the cryptocurrency world. It remains to be seen how the legal proceedings will unfold and whether Welch’s reputation will recover from the aftermath of this crypto debacle.
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