Haliey Welch, known widely as the “Hawk Tuah Girl,” has broken her silence after a significant crash involving her recently launched meme coin, $HAWK. The coin experienced a volatile journey, skyrocketing to a $490 million market cap shortly after its introduction on December 4, only to plummet by 95% within minutes, resulting in losses exceeding $151,000 for investors.
A lawsuit has since been filed in the U.S. District Court in New York, targeting the creators of $HAWK, including overHere Ltd., founder Clinton So, and social media influencer Alex Larson Schultz. Notably, Welch is not listed as a defendant in the suit. The legal claim accuses the defendants of unlawfully promoting and selling a cryptocurrency that was allegedly never properly registered, asserting that they exploited Welch’s fame in their marketing approach.
Responding to the situation for the first time in weeks, Welch expressed her commitment to support affected investors. In her statement on X, she emphasized her seriousness about the matter and her cooperation with legal teams representing those impacted, asserting her aim to hold accountable those responsible for the losses.
Welch’s statement reflects a proactive stance as she appeals to affected investors to reach out for legal assistance. Meanwhile, billionaire investor Mark Cuban publicly defended her, suggesting that she lacked a full understanding of the situation but trusted those around her.
This incident serves as a cautionary tale within the volatile cryptocurrency landscape, particularly surrounding meme coins, which often thrive on hype yet can lead to significant financial consequences for investors. The positive takeaway here is Welch’s commitment to transparency and support for her community, highlighting a growing awareness among influencers about the responsibilities that come with promotion in the rapidly changing crypto environment.
In summary, while the $HAWK situation poses challenges, it may encourage greater diligence and caution among influencers and investors in the volatile cryptocurrency market.