Hawk Tuah Girl’s Crypto Coin Crashes: A Disaster or a Scam?
Haliey Welch, known to the internet as the “Hawk Tuah Girl,” recently made headlines again, but this time for an unexpected and controversial venture into the world of cryptocurrency. After gaining viral fame earlier this year for a cheeky TikTok video where she coined the phrase “hawk tuah,” Welch has carved out a career as an influencer, podcaster, and now, a crypto promoter. However, her latest project, the $HAWK meme coin, has turned into a full-blown disaster, leaving many wondering if it was an ill-fated experiment or something far more sinister.
The launch of $HAWK took place on the Solana blockchain, with Welch and her team promising that the coin was fully compliant with securities laws and not a mere “cash grab.” The hype surrounding the coin was intense, and on its debut, the token’s value soared by a staggering 900%, pushing its market cap to nearly half a billion dollars. However, the euphoria was short-lived. Within just 24 hours, the coin’s value crashed by 95%, erasing millions in value and leaving a trail of devastated investors.
Crypto enthusiasts quickly began to suspect that the $HAWK coin was part of a “pump and dump” scheme—a classic crypto scam where a coin's price is artificially inflated through hype, only for the developers to sell off their holdings, causing the price to plummet and leaving ordinary investors with worthless assets. Evidence seemed to back up these suspicions when it was revealed that 80-90% of the $HAWK supply was controlled by insiders or "snipers"—investors who buy up large quantities of a coin at launch to sell it off at a profit.
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The situation worsened during an X Spaces (formerly Twitter Spaces) discussion, where Welch and her crypto partners attempted to address the mounting backlash. Despite their efforts, they struggled to provide clear answers. When pressed by well-known crypto investigator Stephen Findeisen, also known as Coffeezilla, the team was evasive, and accusations of insider trading and financial mismanagement flew. Welch remained mostly silent throughout the conversation, only occasionally interjecting with dismissive remarks. Her abrupt exit from the session, saying she was “going to bed,” further fueled suspicions of mishandling and irresponsibility.
Things took an even darker turn when it was revealed that Welch had received a significant advance to promote the $HAWK coin—$125,000 up front, with the promise of 50% of the net proceeds. While Welch’s legal team insists that she did not intend to deceive her followers, critics argue that her lack of due diligence and understanding of the crypto space contributed to the disastrous outcome. Many have pointed out that influencers like Welch, who dive into cryptocurrency without fully grasping its risks, are exposing their fans to potentially catastrophic financial losses.
In the wake of the crash, legal experts are now investigating whether Welch’s actions might have legal repercussions, particularly concerning accusations of fraud and market manipulation. Several investors have already filed complaints with the Securities and Exchange Commission, and law firms are preparing to take legal action. Whether this will lead to significant consequences for Welch and her team remains to be seen, but it’s clear that her foray into cryptocurrency has caused considerable harm to her fanbase.
Meanwhile, the cryptocurrency community has had a field day with the fallout. Memecoins, like $HAWK, are notorious for their volatility and the potential for scams, but the rapid collapse of Welch’s coin has sparked a new wave of memes and mockery. A new coin, $TUAH (a reference to Welch’s famous phrase), has even emerged, fueled by the desire to outpace $HAWK’s market cap—adding another layer of absurdity to an already bizarre situation.
In the end, the $HAWK debacle is a cautionary tale about the risks of celebrity-driven crypto projects. For Welch, what was meant to be a fun, meme-inspired venture has turned into a nightmare. While it’s unclear whether she’ll face serious legal consequences, the damage to her reputation is already done. Crypto investors, particularly those who were drawn in by her fame, are left holding the bag, while Welch’s career as a social media personality teeters on the brink.
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