Hailey Welch, ‘Hawk Tuah Girl,’ Faces Possible Arrest Over Alleged Cryptocurrency Scam
Hawk Tuah girl Hailey Welch is facing the prospect of getting arrested on charges of effecting a crypto scam and causing huge financial losses to investors.
For the unversed, the Hawk Tuah girl had started her own meme coin, which was named $HAWK. However, the value of the meme coin surged to $500 million before tanking to under $60 in the space of 20 minutes.
Many experts are hinting that it was a classic case of what is termed in cryptocurrency lingo as a rug pull process, where the values are inflated when swindlers buy up all the tokens, creating scarcity that inflates the price of the token, and immediately sell it, making a hefty profit.
However, it is the naïve and common investor who faces the brunt of the process and loses a sizable amount of money.
Hawk Tuah girl, aka Haliey Welch, is facing lawsuits as a law firm steps in to assist victims who lost millions in the memecoin she launched yesterday 👀 pic.twitter.com/YTNV0PZ2GD
— FearBuck (@FearedBuck) December 5, 2024
Hailey Welch, who brought forth her meme coin named $HAWK, has come under the scanner after the collapse of the meme coin, and critics have accused her of carrying out a scam and swindling investors. Berwick Law, which is representing affected investors, has initiated legal proceedings against Welch.
The meme coin was launched on the Solana Blockchain, and immediately after launch, its value surged to $500 million and, in a matter of minutes, plunged to $60 million.
Burwick Law posted on X:
“We are representing clients in matters related to $HAWK. If you’ve experienced losses and would like to explore your options, learn more.”
15 minutes of fame is OVER pic.twitter.com/Q0UPe0KvNQ
— 𝐔𝐙𝐈 🩸 (@blvckkgrip) December 5, 2024
However, Hawk Tuah girl and her team are denying any wrongdoing, and her manager stated:
“We don’t want to break securities laws. We would say that we’re almost, like, tokenizing, in a sense, Hailey’s fan base. The team hasn’t sold one token, and not one KOL was given one free token. We tried to stop snipers as best we could through high fees at the start of launch on @MeteoraAG.”
Hawk Tuah girl herself took to X to defend.
However, users have taken to social media and are calling for Welch to be made accountable for the losses suffered by investors.
One user wrote on X,
“Justice for Hawk Tuah scammed. She deserves some jail time to make an example and show other celebs not to abuse their followers.”
Another user blamed the investor for betting on a volatile crypto asset and said,
“If you lost money on a Hawk Tuah Coin… You deserved it.”
A third user absolved Welch from any wrongdoing and stated,
“Everyone’s bout to lose more in legal fees because she didn’t do anything illegal 😭 (frankly, I don’t think she knew wtf was going on, her Dev/team took advantage, and now she’s taking the heat).”
Also Read: Hawk Tuah Girl’s $HAWK Memecoin Boomed And Tanked in 20 Mins: Is It A Rug Pull?
