Haliey Welch, known as “Hawk Tuah Girl,” gained viral fame this summer after delivering humorous and candid sexual advice in a street interview. Following her rise to popularity, she launched a podcast and an animal charity, establishing herself as a rising influencer. However, her increased online presence has attracted some peculiar endorsements, particularly for the social media platform X (formerly Twitter), its owner Elon Musk, and the controversial Tesla Cybertruck.
Welch has also ventured into cryptocurrency, investing in Bitcoin and the meme-inspired Dogecoin, influenced by Musk’s promotion of both. Recently, she introduced a new cryptocurrency called $HAWK on the Solana blockchain, claiming compliance with securities laws. However, just a day after its launch, the coin skyrocketed in value by 900% before plummeting by around 95%, raising concerns among investors.
Critics within the crypto community quickly labeled $HAWK a potential pump-and-dump scheme, pointing to evidence that many insiders sold their stakes for substantial profits shortly after the launch. An alarming 96% of $HAWK tokens appeared to be controlled by a small cluster of wallets, indicating coordinated trading activity. Welch and her team attempted to mitigate the rising suspicions during a Q&A session on X Spaces, but the conversation turned confrontational as prominent crypto YouTubers challenged the legitimacy of $HAWK, branding it a scam.
As pressure mounted, screenshots revealed Welch had received a $125,000 advance to promote the token, and she would earn half of the net proceeds from its sales, raising further questions about her intentions and understanding of the project. While her team insisted they did not intend to deceive fans, many who invested in $HAWK were left devastated by the sudden crash.
This incident reflects the growing concern over influencers entering the cryptocurrency market without fully comprehending the risks involved, often targeting inexperienced investors. The consequences of this event remain unclear, but Welch has faced negative backlash, including the emergence of a “revenge coin,” $TUAH, which humorously plays on her situation.
While the fallout from this venture raises serious questions about Welch’s future in the influencer landscape, it emphasizes the need for greater oversight in cryptocurrency and the responsibility of influencers to safeguard their audiences. This cautionary tale serves as a reminder for fans and investors alike to remain vigilant and conduct thorough research before diving into new and emerging financial opportunities.
In a hopeful note, this incident may lead to increased awareness about the complexities of cryptocurrency, encouraging influencer responsibility and more informed decision-making among their followers.