The world of crypto scams has seen many shocking twists, but none as brazen as the alleged $50 million rug pull orchestrated by Haliey Welch, better known as the “Hawk Tuah girl.”
At just 22 years old, Welch skyrocketed to fame thanks to a viral TikTok video that earned her millions of followers. She used her platform to launch a successful podcast, Talk Tuah, which became the fifth most popular podcast globally.
But fame and fortune weren’t enough. Welch ventured into the volatile world of cryptocurrency, where her decision to launch a memecoin called $HAWK marked the start of her downfall.
The coin initially soared, hitting a market cap of $500 million. Investors poured in, lured by Welch’s popularity and promises. But the euphoria was short-lived. Within minutes, the coin’s value plummeted 95%, bottoming out at just $25 million.
Amid the chaos, Welch tried to reassure her fans. She claimed her team hadn’t sold a single token. However, blockchain analysis painted a very different picture.
Crypto analysis tool Bubblemaps revealed that 96% of the $HAWK coin supply was concentrated in one cluster. Out of 285 presale investors, 89 wallets dumped their entire holdings as soon as trading began, triggering the massive crash.
The revelation sparked outrage. Welch and her team scrambled to control the damage by hosting a Twitter Space to explain the disaster. It backfired spectacularly.
In the live space, they faced grilling by prominent crypto investigator @coffeebreak_YT, who exposed inconsistencies in their narrative. As criticism mounted, Welch abruptly ended the session, citing exhaustion. She had rugged a coin and then—astonishingly—went to bed.
The aftermath has been catastrophic for her reputation. Investors lost millions, and many are demanding legal action. Law firms are now exploring lawsuits against Welch and her team, accusing them of orchestrating a pump-and-dump scheme.
This scandal has reignited concerns about celebrity-backed cryptocurrencies. Welch is the latest in a string of influencers accused of exploiting their fame to profit from gullible fans.
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The crypto community is furious. Social media platforms are flooded with calls for accountability, and many argue that Welch’s actions warrant criminal charges.
Critics also point to her failure to properly address the fallout. Ending the Twitter Space prematurely only fueled suspicions of guilt. Welch’s apparent indifference has left a sour taste, even among her most loyal followers.
This incident highlights the risks of investing in influencer-led ventures. Celebrities may bring hype, but their lack of experience in finance or crypto can lead to devastating consequences.
For Welch, the road ahead looks bleak. While she built her brand on relatability and charm, this scandal may be the undoing of her burgeoning empire.
The $HAWK debacle serves as a stark reminder: In the crypto world, even the most trusted names can betray your confidence. Always do your due diligence, no matter how enticing the opportunity seems.
As for the “Hawk Tuah girl,” her next major appearance might not be on TikTok or a podcast—it could very well be in court.
