‘Hawk Tuah Girl’ Haliey Welch Faces Backlash After $HAWK Cryptocurrency Controversy

Internet sensation Haliey Welch, widely recognized as the “Hawk Tuah Girl,” is at the center of a cryptocurrency scandal after her meme coin, $HAWK, reportedly caused significant financial losses for her fans.

Welch, who gained fame for her viral “hawk tuah” comment and leveraged her popularity to launch a showbiz career, ventured into the world of cryptocurrency earlier this year. While the initial hype saw $HAWK soar to a market cap of $490 million, its value plummeted by 91% within hours, sparking outrage and accusations of a potential “rug pull” scam.

Haliey has become an internet sensation. Credit: Gotham / Getty

Allegations of a ‘Rug Pull’

In cryptocurrency, a “rug pull” refers to a scam where developers abandon a project after raising funds, leaving investors with worthless tokens. Some fans allege Welch knowingly orchestrated such a scheme, with several claiming to have lost their life savings.

Criticism poured in on social media, with some fans calling for legal action against Welch.

Haliey Welch Responds

Welch denied any wrongdoing, claiming her team worked to prevent exploitation during the coin’s launch. She stated on social media:

“We tried to stop snipers as best we could through high fee’s in the start of launch on MeteoraAG.”

Her platform, over Here, also issued a detailed statement, explaining the project’s intentions and challenges:

• The team aimed to transition Web2 users (traditional internet users) to Web3 (decentralized platforms) using meme culture.
• They described Welch as the perfect fit for their vision, aligning her viral persona with the concept of meme coins.
• Despite their optimism, they admitted to missteps during the project’s rollout, citing “naivety” and poor oversight of key decisions.

‘Doc Hollywood’ and Project Mismanagement

A significant portion of the blame has been directed at an individual named “Doc Hollywood”, who allegedly controlled:

• Token-related decisions.
• Fees (imposing a 15% trading fee, which hurt investors).
• The project’s treasury.

The team claimed plans for a token lock-up were abandoned under Doc Hollywood’s direction, accelerating the project’s downfall.

In response, Alexander Larson Shultz, the individual identified as Doc Hollywood, denied these accusations, further muddying the waters.

Haliey Welch has faced scrutiny after fans lost money on her memecoin. Credit: Michael Tullberg/Getty Images

What’s Next?

The fallout has left many investors demanding accountability, and speculation about potential lawsuits continues to grow. For Welch, the controversy has overshadowed her otherwise breakout year.

The incident serves as a cautionary tale about the volatility and risks of meme coins, particularly for inexperienced investors swayed by celebrity endorsements.

If you’re considering investing in cryptocurrencies, it’s essential to:

• Research thoroughly.
• Understand the risks involved, especially with meme coins.
• Avoid investing more than you can afford to lose.

Featured image credit: Michael Tullberg/Getty Images