Haliey Welch is working closely with lawyers to address issues related to her failed meme coin and its legal implication.
Haliey Welch responds to backlash following the launch of ‘Hawk Tuah’ memecoin and her ongoing legal cooperation.
Haliey Welch, the woman behind the viral “hawk tuah” meme, is now cooperating with lawyers regarding her failed memecoin venture.
After gaining fame for using the term “hawk tuah” in an “on the street” interview outside a nightclub, Welch expanded her career with social media appearances, a podcast, and festival appearances.
However, her most recent venture, the Hawkcoin ($HAWK), has drawn significant scrutiny.
‘Hawk Tuah’ girl faced lawsuit after launching Hawk coin.
Previously, ‘Hawk Tuah’ girl released her own cryptocurrency, $HAWK, to much fanfare.
She launched HAWK Coin on December 4. Immediately, HAWK Coin quickly soared in value, but soon plummeted, leaving many investors in the lurch.
The sudden downturn has sparked outrage, with some calling for legal action against the viral star.
HAWK coin initially reaching a market cap of $490 million. However, the excitement was short-lived.
Within just three hours, the coin saw a drastic 91% drop, with its value crashing to $41.7 million.
This sudden decline left many investors with significant losses, sparking frustration and anger from those who had bought in.
After the incident, Haliey Welch faced widespread criticism and allegations of foul play.
Additionally, the ‘Hawk Tuah’ girl was also alleged to be involved in a ‘pump-and-dump’ scheme
The Hawkcoin launch quickly became the subject of intense scrutiny, with accusations of a pump-and-dump scheme.
This term refers to artificially inflating the coin’s value before selling it for profit. Data from platforms Bubblemaps and Dexscreener revealed that insider wallets and “snipers” controlled up to 90% of the coin’s supply at launch.
Additionally, ‘snipers’—entities that purchase large amounts of a token at launch and sell quickly for profit—bought a significant portion of Hawkcoin’s early supply.
One such buyer acquired 17.5% of the coin’s supply for $993,000 and later sold it for a profit of $1.3 million.
These activities have fueled the accusations of market manipulation.
Welch responded to backlash and scrutiny
Welch has now publicly stated that she is working with lawyers to resolve the situation.
“I take this situation extremely seriously,” she said. “I want to address my fans, the investors affected, and the broader community. I am fully cooperating with the legal team to uncover the truth and hold responsible parties accountable.”
While, Welch also denied wrongdoing and explains efforts to prevent sniper acitvity.
In the face of these allegations, Welch initially denied any wrongdoing. She said: , “Team hasn’t sold one token, and not one KOL was given a free token. We tried to stop snipers as best we could through high fees at launch on Meteora.”
Despite the controversy, Welch previously defended the memecoin, stating that it was not “just a cash grab.”
She emphasized its cultural roots, describing it as a pop culture-based venture.
Welch is actively cooperating with legal teams and making continued statements, showing her commitment to addressing the situation and resolving any issues related to the coin.
Now, Haliey Welch’s involvement in the Hawkcoin launch has continued to spark considerable debate. .