“I feel really bad for all the people that got affected by it” — ‘Hawk Tuah’ girl Hailey Welch breaks silence two months after crypto controversy

After months of remaining silent about the disastrous demise of her $HAWK meme coin, Hailey Welch, popularly known as the "Hawk Tuah Girl," has now spoken up. After a quick spike to a $490 million valuation, the cryptocurrency fell 95% in a matter of minutes, leaving investors with nothing. Welch maintains she had no malicious intent and is working with legal teams to help people impacted as lawsuits pile up and allegations of a pump-and-dump operation spread.

On December 4, 2024, the $HAWK token became live on the Solana blockchain, rapidly soaring in value by 900% during early trade. But the exhilaration didn't last long. Investors lost a lot of money as the token's market value plummeted from about half a billion dollars to less than $100 million in a matter of hours.

According to reports from the blockchain analytics company Bubblemaps, a single cluster of associated wallets held 96% of the $HAWK tokens, indicating possible insider trading and high-level coordination. This information strengthened claims that the coin's introduction was a well-planned pump-and-dump operation. Before cashing out, Hailey Welch and her crew allegedly used her viral reputation to build false demand, leaving supporters with worthless tokens, according to investors.

Hailey Welch's denial and emotional response

After the fall, Hailey Welch avoided social media for weeks and, at first, said nothing. But in a leaked podcast conversation with Banks, the creator of FaZe Clan, Welch sobbed as she acknowledged that she "felt really bad" for those who lost money. However, she maintained that she never meant to mislead anybody.

Hailey Welch stated in the episode:

"I feel really bad for all the people that got affected by it"

She clarified that the notion of introducing a meme coin was presented to her as a novel concept that had the potential to:

"change the way everybody thinks" about cryptocurrency.

Despite early suspicions about the project's integrity, she acknowledged:

"I probably should have looked into him a little bit more.

Hailey Welch went on to say that one of the main reasons she consented to link her name to the project was because half of the token's profits were intended to be donated to charity. Additionally, she said that she was paid $125,000 upfront to promote the currency, with an extra $200,000 promised within 30 days. However, she claims she never got the money.

Lawsuits and Investor Allegations

Legal action is now the result of the aftermath of the $HAWK crash. A lawsuit against overHere Ltd., its creator Clinton So, and social media influencer Alex Larson Schultz was filed in the U.S. District Court in New York on December 20. They are accused of illegally marketing and selling an unregistered cryptocurrency in the case. Despite the fact that Hailey Welch is not listed as a defendant, investors contend that her participation was essential to the coin's marketing.

The eerie parallels between $HAWK's trajectory and other well-known pump-and-dump cryptocurrency frauds have been noted by both her supporters and detractors. Stephen Findeisen, a crypto investigator and the host of the Coffeezilla YouTube channel, described this launch as:

“This is one of the most miserable, horrible launches I’ve ever seen in my life.”

He revealed that just 3% of the token's supply was open to the public, allowing early investors to liquidate their holdings for enormous gains at the expense of regular customers, while 17% of the token's supply was sold to insiders with no lock-up period.

Hailey Welch insists that she was duped and was only the public face of the operation, even in the face of intense criticism.

“She didn’t intend to fleece fans,” according to her lawyer, who has maintained that she never intended to defraud her admirers.

Public Response and Celebrity Opinions

A huge reaction has resulted from the situation surrounding Hailey Welch, with investors and online celebrities accusing her of deceiving her following base. Crypto researchers and YouTubers have analyzed the case, providing proof that Welch's group used dishonest tactics.

Mark Cuban, a millionaire investor, has defended her, claiming that Welch was not quite aware of the financial and technological complexities involved in starting a cryptocurrency. In a podcast with Jules Terpak of The Washington Post, he stated:

"It wasn’t something she fully understood. But she trusted the people around her."

Next steps for Welch and the $HAWK Token

Since then, Hailey Welch has declared her dedication to supporting individuals impacted by the token's demise. In a post on X, she wrote:

“I take this situation extremely seriously and want to address my fans, the investors who have been affected, and the broader community. I am fully cooperating with and am committed to assisting the legal team representing the individuals impacted, as well as to help uncover the truth, hold the responsible parties accountable, and resolve this matter.”

Additionally, she encouraged impacted investors to get in touch with the case's handling company, Burwick Law.

FaZe Banks, who appeared with Hailey Welch in the podcast episode that was leaked, has publicly attacked Welch's group, referring to the whole thing as a

Trending

"f****** mess."

He suggested that Welch should terminate her whole staff because they were responsible for the project's catastrophic conclusion and mismanaged it.

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