3 sources·Business

Controversy Erupts Over $HAWK Memecoin Launch by Influencer Haliey Welch

Haliey Welch's launch of the $HAWK cryptocurrency faced backlash after its rapid rise and fall, stirring allegations of insider trading and mismanagement.

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Updated: Dec 5th, 2024, 10:16 PM ET

Summary

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Haliey Welch, known as Hawk Tuah Girl, launched the $HAWK meme cryptocurrency, which initially surged to $490 million before plummeting 91% in hours. Accusations of insider trading arose, with reports indicating that a small number of investors owned a significant chunk of the token. Welch defended the project on social media, claiming no tokens were sold by insiders, while others criticized it as a potential pump-and-dump scheme. As investors filed complaints, Welch faced scrutiny over her involvement and the fallout from this volatile launch.

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