Key Notes
- Haliey Welch’s $HAWK coin plummeted from a $500M market cap to $25M, a dramatic 95% value loss.
- Lawsuit implicates OverHere Ltd., Clinton So, and Alex Larson Schultz; Welch pledges accountability but isn’t a defendant.
- Welch ended her silence, committing to legal cooperation and solutions, but investor trust remains deeply shaken.
Hawk Tuah Girl, Haliey Welch, has finally broken her silence following the dramatic collapse of her cryptocurrency, $HAWK. The influencer, known for her viral Southern drawl and meteoric rise to fame, addressed the fallout publicly after two weeks of absence from social media.
Earlier this month, Welch debuted $HAWK, a cryptocurrency meme coin on the Solana blockchain. It initially reached an impressive $500 million market cap before plummeting to just $25 million—a shocking 95% loss in value. Investors accused Welch’s team of orchestrating a pump-and-dump scheme and insider trading, claims the team has denied.
Aggregated data from Bubblemaps indicates insider wallets and snipers dominated 80% to 90% of HAWK’s supply during the initial launch. These entities swiftly acquired large portions of the token, securing substantial control immediately.
Source: Bubblemaps
Welch emphasized taking the situation seriously through a statement on Twitter Friday morning. This marked her first public acknowledgment of the controversy linked to the $HAWK token’s sudden crash. She confirmed full cooperation with legal representatives for affected investors, committing to uncovering facts, ensuring accountability, and seeking resolution.
I take this situation extremely seriously and want to address my fans, the investors who have been affected, and the broader community. I am fully cooperating with and am committed to assisting the legal team representing the individuals impacted, as well as to help uncover the…
— Haliey Welch (@HalieyWelchX) December 20, 2024
Welch, who is not named as a defendant in the case, encouraged affected investors to contact Burwick Law for assistance. Meanwhile, the lawsuit alleges that the coin’s creators, OverHere Ltd, and its executive Clinton So, along with LA-based promoter Alex Larson Schultz, mishandled the launch and sale of the cryptocurrency.
Court Ruling Exposes $HAWK Fraud—Welch Remains Silent
A December 19 court ruling exposed the illegal promotion and sale of the $HAWK token, intensifying the fallout. The lawsuit identifies the Tuah The Moon Foundation, which is responsible for managing the coin’s sale funds.
“[The lawsuit] arises from the unlawful promotion and sale of the Hawk Tuah cryptocurrency memecoin, known as the ‘$HAWK’ token, which Defendants offered and sold to the public without proper registration,” said the ruling.
Welch herself is not directly implicated in the lawsuit. Still, questions arose after a public Spaces stream on December 5, where she avoided investor questions about the crash, saying she was “going to bed” before abruptly disconnecting.
Her silence ended Friday with the Twitter statement, but the controversy is far from resolved. Welch’s Instagram, with its millions of followers, has been inactive since December 3, and her podcast account last posted the next day.
What’s Next for Hawk Tuah Girl?
The cryptocurrency crash has overshadowed Welch’s earlier success as an internet personality. While her ventures like Talk Tuah and Pookie Tools showcased her ability to capitalize on fame, the $HAWK fiasco is a cautionary tale of how fast fortunes can shift in the volatile crypto sector.
Despite the challenges, Welch remains committed to finding answers. Her promise to “hold the responsible parties accountable” leaves many wondering if her charisma and determination can help restore trust—or if the damage has already been done.
next
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
With over 3 years of crypto writing experience, Bena strives to make crypto, blockchain, Web3, and fintech accessible to all. Beyond cryptocurrencies, Bena also enjoys reading books in her spare time.
