Was Hawk Tuah coin a pump and dump? Complaint filed against Hailey Welch
Last Updated on 7 December 2024 by CryptoTips.eu
You may have missed it, but one of the biggest online hypes this year was the so-called ‘Hawk Tuah girl’. Her real name is Hailey Welch and her 15 minutes of fame resulted from a viral video in which she explains what drives a man crazy in bed. That 4-second video became a major hit, got its own Wikipedia page and Hailey went on to became world famous.
She promised not to just become an overnight celebrity but to really do something good with her new status. She helped animals in need and appeared in various podcasts. Thanks to billionaire Mark Cuban (whom she invited to her podcast on YouTube at the end of last month), she learned about memecoins. Cuban promised to support her memecoin if she launched it.
4 December
Just days later, at the same day that saw Bitcoin break the magical $100,000 price barrier (on December 4th), Hailey and her management launched their own cryptocurrency, called $Hawk.
Haliey Welch’s alleged involvement in the $HAWK token debacle isn’t just another crypto scam—it’s a perfect example of how we elevate mediocrity and watch as it turns into outright exploitation. This is the kind of behavior that destroys trust, drains resources, and wastes human… pic.twitter.com/TmQksFs6rt
— Charlie Charlie (@CharlieWrldTV) December 5, 2024
Thanks to Hailey’s fame and a clever marketing campaign, it reached a market capitalization of around $500 million in just a few minutes after launch and went up by some 900%.
Then an unknown wallet sold about 20% of all available digital coins and the price quickly fell down 90% again. For those who have been following crypto for a while, the graph of $Hawk’s very short lifespan looks like a classic rug-pull.
THE HAWK TUAH MEMECOIN RECAP
— DivXMaN (@crypto_div) December 5, 2024
Hailey Welch teamed up with a few people to launch the $HAWK token in an attempt to capitalize on her fame as the "Hawk Tuah" girl. The result was a blatant scam that is now landing them all in hot water and will lead to lawsuits.
Hailey built a lot…
Several investors have already announced that they have filed a complaint against Hailey Welch. According to several researchers, some crypto wallets held 17% of all available coins just before the coin’s launch with the intention of selling it as quickly as possible. Hailey’s management made $2 million in 5 minutes.
