Haliey Welch, known online as the "Hawk Tuah Girl," became famous earlier this year after a street interview in Nashville, Tennessee, went viral. In the interview, she gave a cheeky response to a personal question, which quickly spread across social media platforms, earning her millions of followers.
Following her sudden rise to fame, Welch seized various opportunities. She quit her job at a bed spring factory, launched a line of merchandise, made paid appearances, and even joined country music star Zach Bryan on stage during a concert. In September, she began hosting a podcast called "Talk Tuah," produced by Jake Paul's company, Betr. Additionally, she released a dating advice app named Pookie Tools.
On December 4, 2024, Welch entered the cryptocurrency world by promoting a new digital coin called $HAWK. This type of cryptocurrency is often referred to as a "memecoin," which is a digital currency inspired by internet memes and trends. Initially, $HAWK's market value soared to approximately $490 million. However, shortly after its launch, the coin's value plummeted by more than 90%, dropping to around $41.7 million, according to cointelegraph.
The rapid decline in $HAWK's value led to significant financial losses for many investors. Some individuals reported losing substantial amounts of money, with one investor from Brooklyn, New York, alleg0, and another losing $18,500.
In response to these losses, a group of 12 investors filed a federal lawsuit on December 19, 2024. The lawsuit targets the creators and promoters of the $HAWK token, including Tuah The Moon Foundation, overHere Ltd., its executive Clinton So, and promoter Alex Larson Schultz. The plaintiffs accuse the defendants of unlawfully promoting and selling an unregistered security, leading to collective damages exceeding $151,000.
Although Welch heavily promoted $HAWK to her followers, she is not named as a defendant in the lawsuit. After the coin's collapse, Welch remained silent on social media for about two weeks, leading to speculation and concern among her fans. During this period, she also paused the release of new episodes of her podcast, "Talk Tuah."
Welch breaks silence after a brief break from her regular social media activities...
On December 20, 2024, Welch broke her silence by issuing a statement on social media. She expressed deep concern over the situation and stated her commitment to cooperating with legal teams to uncover the truth and hold responsible parties accountable. She encouraged affected investors to contact Burwick Law for assistance.
The controversy surrounding $HAWK has sparked discussions about the risks associated with celebrity-endorsed cryptocurrencies. Experts warn that such ventures can be highly volatile and may lack proper regulatory oversight. They advise potential investors to conduct thorough research and exercise caution before investing in digital assets promoted by public figures.
As the situation develops, Welch's future endeavors and public image remain uncertain. The incident serves as a cautionary tale about the complexities and potential pitfalls of merging internet fame with financial ventures in the rapidly changing world of digital currencies.