Hailey Welch, better known as the "Hawk Tuah girl," rose to fame as a TikTok sensation and leveraged her viral popularity to build a multi-faceted career. However, her latest venture, the $HAWK memecoin, has spiraled into controversy after accusations of a $50 million rug pull. Here’s a detailed look at the rise and fall of Hailey Welch and the $HAWK token.
From Viral Stardom to Financial Success
Hailey Welch, a 22-year-old from Belfast, Tennessee, became an internet sensation after her onomatopoeic phrase "hawk tuah"—mimicking the sound of spitting—went viral on TikTok. This unexpected fame catapulted her into collaborations with celebrities and paved the way for various ventures, including:
The launch of the ‘Talk Tuah’ podcast, which quickly became the 5th most popular podcast globally.
A Vocal Pack product, selling out daily and generating substantial revenue.
Exclusive event appearances, earning her up to $30,000 per night.
Hawk Tuah merchandise, which added another lucrative stream of income.
The Launch of $HAWK Memecoin
With her rising influence, Hailey ventured into the cryptocurrency space, launching $HAWK, a memecoin that rapidly gained traction. The token soared to a $500 million market cap, attracting thousands of investors. However, this success was short-lived, as the price plummeted to $25 million within minutes, leaving investors with a 95% loss.
The Tokenomics and the Aftermath
Following the price crash, Hailey claimed that her team had not sold any tokens and shared the tokenomics:
10% supply allocated to the team with a 12-month lock and 3-year vesting schedule.
However, blockchain analysis revealed inconsistencies. Bubblemaps showed that 96% of the $HAWK supply was controlled by a single cluster, and 89 wallets, including those linked to the team, dumped their holdings immediately after launch. This triggered the sharp price collapse, fueling allegations of a rug pull.
Investor Backlash and Social Media Outrage
Social media platforms were flooded with outrage and heartbreaking stories from affected investors:
One user lamented losing everything, saying, "Hawk Tuah scammed me and now I’m homeless."
Another shared, "My grandmother lost $85,000. She trusted this scam artist."
Victims expressed disbelief and anger over the $50 million rug pull, with many calling for legal action.
Hailey Welch’s Response
As the backlash mounted, Hailey’s team attempted to address the situation through a live session on Twitter Spaces. However, the session was abruptly canceled after Hailey announced she was "going to sleep," further enraging investors.
Legal Consequences Loom
The scandal has prompted investigations into Hailey Welch and her team. Reports suggest that legal proceedings are underway, with potential consequences for the individuals involved. Many investors are hoping for justice as details of the case continue to unfold.
Lessons from the $HAWK Scandal
The $HAWK memecoin debacle serves as a cautionary tale for cryptocurrency investors. It highlights the importance of thorough due diligence and skepticism when investing in influencer-backed tokens. While Hailey Welch’s story began as one of viral success, the fallout from the $HAWK token has left a trail of financial devastation and trust broken beyond repair.
As the crypto community waits for justice, this incident underscores the need for greater transparency and accountability in the world of digital assets.