Influencer Haliey Welch Faces Scrutiny After $HAWK Cryptocurrency Crashes

The viral 'Hawk Tuah Girl' denies allegations of insider trading and defends her team after her memecoin loses 95% of its value just hours after launch.

Haliey Welch, known for her viral 'Hawk Tuah' moment, launched the $HAWK cryptocurrency on Wednesday, which peaked at a $500 million market cap before plummeting to $25 million within hours.
Critics, including YouTuber and crypto journalist Coffeezilla, accused Welch of a 'rug pull' scheme, where creators profit from hyped coins before their value collapses, a claim Welch denies.
Welch attributed the crash to 'snipers,' bots programmed to sell tokens during price surges, and stated that neither she nor her team sold any $HAWK tokens post-launch.
The controversy has drawn comparisons to past celebrity crypto scandals, such as Kim Kardashian's fine for promoting EthereumMax and Logan Paul's alleged misleading promotions.
Legal action against Welch remains uncertain, with no definitive evidence of wrongdoing, though the incident highlights ongoing risks associated with volatile memecoins and influencer-led crypto projects.