Haliey Welch, known online as the “Hawk Tuah Girl,” has found herself embroiled in controversy after the launch of her cryptocurrency, $HAWK, on the Solana blockchain.
Welch, who gained viral fame this summer with her explicit sex advice, recently entered the crypto world by promoting $HAWK.
The coin quickly surged by 900% in value after its launch on Wednesday, but the excitement was short-lived as its price plummeted by 95%, leading to accusations of a pump-and-dump scheme.
Many investors suspect that insiders manipulated the coin’s value for quick profit, with some individuals reportedly accumulating large portions of the coin to sell at inflated prices.
Despite Welch’s attempts to manage the fallout through a live discussion on X (formerly Twitter), the situation only worsened. During the session, crypto experts, including YouTuber Coffeezilla, criticized the launch, with some calling the project a scam.
Concerns grew when it was revealed that $HAWK insiders appeared to be profiting from exorbitant transaction fees. One crypto wallet, for example, accumulated 17.5% of the coin’s total supply and sold it for $1.3 million in just 90 minutes.
Welch, who has been promoting the coin to her followers, has not provided clear answers about the situation. Investigative reports later revealed that she had been paid $125,000 for marketing the token and would receive 50% of net proceeds.
The controversy continues, with many accusing Welch of neglecting due diligence, resulting in significant financial losses for her fans. Meanwhile, a new “revenge coin,” $TUAH, has emerged, mocking Welch’s involvement and seeking to surpass $HAWK’s market cap. The situation remains under scrutiny as legal and reputational questions persist.
