Legal expert outlines the potential charges the Hawk Tuah girl could face in connection with the cryptocurrency scandal.
Hawk Tuah girl, known by her real name Haliey Welch, is facing serious allegations following her involvement in a cryptocurrency venture.
After launching her ‘meme coin’, ‘$HAWK’, which quickly plummeted in value, many are now questioning her role in the apparent crash. A legal expert explains the potential charges Welch could face if these allegations prove to be true.
Hawk Tuah’s launch of $HAWK coin
Previously, many viewers were shocked after Hawk Tuah girl announced the launch of HAWK coin
On December 4, Haliey Welch launched her cryptocurrency, HAWK, promising it was “not just a cash grab.”
In an interview with Fortune, her manager Jonnie Forster described the initiative as “tokenizing Haliey’s fan base.”
The project quickly gained traction, with the coin’s market capitalization reaching nearly $500 million shortly after its debut.
However, within 20 minutes, HAWK’s value plummeted dramatically from $490 million to just $41 million.
The sudden drop left fans and investors outraged, with some claiming to have lost their life savings
Many alleged Hawk Tuah of security fraud and market manipulation
After the ‘$HAWK’ coin launched with a market cap of $490 million but dropped to just $41 million within 20 minutes, many alleged Hawk Tuah of security fraud.
While, many have called this a “pump and dump” scheme, where the creator sells off tokens early, causing the price to collapse.
Additionally, Welch denied these claims, data suggests that over 80 wallets controlled by her team held a majority of the tokens.
Lawyer explains potential charges for hawk tuah girl in cryptocurrency scandal
After the incident, expert legal analysis and potential charges Welch could face after the HAWK coin collapse.
Lawyer Yuriy Brisov, a partner at Digital and Analogue Partners law firm, explained that Welch could face significant legal consequences.
He noted that if the team had non-public information about the coin’s launch or pre-arranged sales strategies, these actions could lead to charges of security fraud and market manipulation.
Additionally, Brisov further mentioned that the United States Securities and Exchange Commission (SEC) and the Department of Justice (DOJ) could investigate the matter for potential violations, including money laundering and wire fraud.
As of now, no official investigation has been announced by the SEC or DOJ. However, if the allegations are proven to be true, Welch could be facing serious legal consequences.
As the cryptocurrency industry continues to grow, so do concerns over fraud and market manipulation.
If the allegations against Welch are true, she could face significant legal challenges. The situation highlights the need for stricter regulation and transparency within the crypto world to protect investors.