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Hailey Welch, better known as the "Hawk Tuah Girl," is facing serious questions about her involvement in a cryptocurrency scandal that left investors in financial ruin. The controversy stems from the collapse of Hawkcoin, her Solana-based memecoin, which lost 95% of its value just days after its launch in December 2024.
Sparking accusations of fraud and mismanagement, investors allege a pump-and-dump scheme orchestrated by Welch and others involved in the project. Welch publicly stated that she takes the matter seriously and is cooperating with her legal team. Per reports by IB Times, her team alleged automated bots manipulated the token price, suggesting that Welch is also a victim of circumstance. However, investors are demanding accountability and have filed lawsuits against key figures associated with the project.
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While Welch denies any wrongdoing and claims she played a minimal role in Hawkcoin's operations, public outcry continues to grow. Her legal battle has netizens speculating the possibility of arrest, adding a new layer of scrutiny to the already heated scandal.
For now, Welch remains under investigation, with authorities and investors closely watching her every move. Despite speculations, there have been no official reports that Welch has been detained.
Proper timeline of Hailey Welch's crypto crash
On December 4, 2024, Welch launched Hawkcoin, a memecoin based on the Solana blockchain and represented as $HAWK. The coin debuted with an astonishing valuation of £392 million ($500 million), driven by her large online following and promises of high returns. However, within days, the coin's value plummeted by 95%, sinking to just £20.6 million ($26.4 million). Investors who had poured significant funds into the project were left financially devastated.
Blockchain data revealed that 80-90% of Hawkcoin's supply was controlled by insider wallets at launch, leading to accusations of a pump-and-dump scheme. Key figures involved include Clinton So, founder of the launchpad overHere, who allegedly converted the overseeing Tuah Foundation into an offshore entity to avoid securities regulations. Another wallet reportedly bought 17.5% of the tokens for £808,000 ($993,000) and sold them for a £1.05 million ($1.3 million) profit shortly after launch.
Welch initially stayed silent as allegations mounted, only addressing the issue weeks later through social media. She denied any involvement in fraudulent activities, claiming her role in operational decisions was minimal.
Despite her statement, investors have filed lawsuits, and public backlash has grown, with many demanding legal consequences for those responsible. But she hasn't been arrested yet.
Everything you need to know about the Hawk Tuah podcast
Hailey Welch's podcast, Talk Tuah, co-hosted with her close friend Chelsea Bradford, was one of her major ventures that helped solidify her status as more than just a viral sensation. Launched in early 2024, the podcast capitalized on Welch's online fame and gave fans a deeper look into the person behind the viral "Hawk Tuah" moment.
Episodes often covered a wide range of topics, from funny stories about their rise to internet stardom to more serious discussions about managing fame and the unexpected challenges that came with it. They discussed their personal lives, shared experiences, and connected with their growing audience. Fans were drawn to the podcast's casual and conversational tone, which felt like listening to two friends chat.
Welch also used the platform to discuss her business ventures, including her transition into the cryptocurrency world. But these segments have since faced criticism following the Hawkcoin debacle.
The podcast saw significant success, attracting thousands of listeners and securing sponsorships. However, since the fallout from the crypto crash, its future remains uncertain. Critics have questioned whether Welch will address the controversy in future episodes or choose to pause the show indefinitely.
The Hawk Tuah podcast is available on YouTube.
