Haliey Welch, otherwise known as the Hawk Tuah girl, has finally addressed the controversy surrounding her cryptocurrency.
Welch, 22, rose to internet fame earlier this year after a viral interview in which she coined the catchphrase: “You gotta give it that hawk tuah, and spit on that thing.”
The phrase propelled her to online stardom, leading to the launch of her Talk Tuah podcast and, later, her involvement in cryptocurrency.
In an attempt to capitalize on her newfound fame, Welch introduced her own meme coin, $HAWK, describing it as “a good way to interact with [her] fans.”
Meme coins, often inspired by internet trends, are known for their volatility in the cryptocurrency market.
The token initially surged, reaching a staggering $490 million market cap within hours of its launch.
However, within three hours, its value plummeted by 91%, according to CoinTelegraph, leaving many investors with significant losses.
The crash prompted accusations that Welch was involved in a “rug pull,” a fraudulent scheme where developers abandon a project after raising funds, leaving investors with worthless tokens.
Some investors took to social media platform X to express their frustration, with some claiming to have lost their “life savings” and calling for legal action.
On December 19, a lawsuit was filed in the U.S. District Court in New York against the creators of $HAWK, according to The Hollywood Reporter.
The lawsuit names overHere Ltd., its founder Clinton So, social media influencer Alex Larson Schultz, and the Tuah The Moon Foundation, alleging they unlawfully promoted and sold unregistered cryptocurrency.
Despite her role in promoting the coin to her 2.6 million Instagram followers and podcast audience, Welch was not named as a defendant in the lawsuit.
Now, Welch has broken her silence in a Talk Tuah episode featuring FaZe Clan founder Banks. The episode was reportedly leaked on social media, showing Welch visibly emotional over the situation.
Banks reassured her, saying: “It’s all gonna be OK.”
Welch defended her involvement, explaining that the project was pitched to her as a “long-term coin” that would “change the way everybody thinks about crypto.”
“And I feel really bad for all the people that got affected by it,” she admitted. “And it just didn’t go the way I planned.”
She revealed that her “biggest mistake” was trusting the individual behind the crypto deal, whom she described as a “friend of a friend.”
“I probably should have looked into him a little bit more,” she added.
Welch further described her unease on the day of the coin’s launch, noting that the individual in question acted “a little bit weird,” which made her “suspicious.”
Following the leak of the Talk Tuah episode, Banks criticized Welch’s team, accusing them of mishandling the situation.
“These were nonstarters and we were told this episode would only ever see the light of day if we explicitly green lit it,” Banks stated, expressing frustration over the release.
He also urged Welch to make changes within her team, saying: “Poor girl, it’s a wonder how she found herself in this position in the first place.”