Introduction
Haliey Welch, called the “Hawk Tuah girl,” spoke out after her Solana meme coin crash. Meanwhile, the Hawk Tuah token lost 95% of its value minutes after its launch. Welch stayed silent for 333 hours before posting on X. Additionally, she said said she is working with a federal lawsuit. The crash caused $150,000 in losses for 12 American investors. Notably, Welch posted her statement less than 24 hours after Burwick Law filed the lawsuit. It was her first public response since Dec. 5. “I take this matter seriously,” Welch said. “I will work to find the truth and hold those responsible accountable.”
Legal Action in the Hawk Tuah Meme Coin Scandal
Burwick Law filed the lawsuit for the affected investors. Specifically, the suit says the Hawk Tuah coin caused financial harm. The token reached a $500 million market cap shortly after its Solana launch. But its value dropped to $50 million in minutes. Welch said her team did not sell any tokens, yet Bubblemaps data showed otherwise. It showed insiders controlled 96% of the token supply. Moreover, community notes on Welch’s tweets claimed the team sold tokens while buyers were investing.
Investor Losses and Backlash
The lawsuit said 12 investors lost $150,000 due to the crash. Consequently, some accused Welch’s team of running an exit scam. Reports said Welch earned $50 million from the project. Investors grew angry at the team’s silence. Welch and her team did not speak for two weeks. As a result, the lack of updates fueled rumors and accusations. On Dec. 19, Welch finally responded to the backlash.
Welch’s Statement and Commitment
Welch promised to fully cooperate with the lawsuit. In addition, she said she is helping the legal team and wants to rebuild trust. Welch also addressed her fans and investors. “I will support the legal process and help the affected people,” she said. “This issue needs a fair and clear resolution.”
Risks in the Hawk Tuah Meme Coin Crash
The Hawk Tuah crash shows the risks of meme coins. The project gained a lot of hype but crashed fast. Welch’s claim of no insider sales was disproven by data. Evidence of insider control caused doubts about the project’s trustworthiness. This event is a warning about risks in crypto markets. Thus, investors are now calling for stricter rules to stop similar issues. Welch’s involvement in the lawsuit may reveal more about what happened.
The Aftermath of the Hawk Tuah Meme Coin Crash
The crypto world will watch as this case unfolds. Welch’s reputation has suffered greatly. She will face challenges in regaining trust from investors and fans. Whether she can recover remains unclear. For now, this incident reminds everyone of the risks in meme coin investments.
Copy and pasting:
Hawkanomics:
Team hasn’t sold one token and not 1 KOL was given 1 free token
We tried to stop snipers as best we could through high fee’s in the start of launch on @MeteoraAG
Fee’s have now been dropped pic.twitter.com/E7xN9VmCrx
— Haliey Welch (@HalieyWelchX) December 4, 2024
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