Hawk Tuah Girl Responds to Lawsuit Over $HAWK Memecoin Crash: Public Apology and Legal Clarification

Haliey Welch, widely known as the “Hawk Tuah Girl” due to her viral persona and popular podcast Talk Tuah, is facing significant backlash after the dramatic collapse of the $HAWK memecoin. Investors have filed a lawsuit alleging securities violations, claiming losses of over $151,000 following the token’s 90% crash. In a recent public statement, Welch has addressed the ongoing controversy and clarified her involvement in the project.

The $HAWK Memecoin Controversy: What Went Wrong?

The $HAWK token made its debut in early December, quickly gaining traction with a market capitalization that soared to $490 million. However, the euphoria was short-lived, and the memecoin plummeted by a staggering 93% shortly after its launch. The sharp decline prompted allegations of a “rug pull,” leading to a federal lawsuit filed by Burwick Law on behalf of 12 investors who lost a combined total of $151,000.

The lawsuit named several individuals and entities, including Alex Larson Schultz (a.k.a. Doc Hollywood), OverHere Limited, Clinton So, and Tuah the Moon Foundation. Although Welch’s name does not appear in the lawsuit, her prominent endorsement of the token has made her a key figure in the controversy. Critics have accused her of being complicit in the downfall of the project, which has sparked a storm on social media, with investors voicing their frustrations and financial losses.

Haliey Welch Responds: A Public Apology and Clarification

In the wake of the lawsuit, Welch took to social media to address her fans and the broader crypto community. She expressed deep regret over the incident, acknowledging the pain and financial losses suffered by the investors. Welch reiterated her commitment to fully cooperate with legal authorities to uncover the truth behind the alleged fraudulent practices associated with the $HAWK project.

In a tweet, Welch said, “I deeply regret the impact this has had on my followers and the crypto community. I will fully cooperate with the investigation to ensure transparency and justice.”

Her legal team also issued a statement to Cryptonews, emphasizing that Welch was not involved in the technical or financial aspects of the $HAWK token’s development. According to Welch’s representatives, she was merely compensated for her promotional efforts.

A Limited Role in the $HAWK Project

Welch’s legal team provided further clarity on her involvement, stating that she did not spearhead or create the $HAWK token. Instead, she entered into a fixed-term agreement to promote the token on her platforms. “Haliey Welch did not create or launch the project. She was hired for promotional activities and was paid a sponsorship fee,” the statement read. “Her role was strictly limited to promoting the memecoin, and she was not involved in its technical deployment or tokenomics.”

The legal team also emphasized that Welch was unaware of any alleged market manipulation tactics employed by the creators of the $HAWK project. “There was no guarantee she would earn additional money from the memecoin beyond her initial payment,” they clarified.

The Alleged Rug Pull and Investor Losses

As the $HAWK token crashed, blockchain analysis revealed that over 96% of the token supply was concentrated in a few connected wallets. Some of these wallets were involved in significant sell-offs, leading to the rapid decline in the token’s value. These actions triggered outrage among investors, many of whom had been lured into the project by Welch’s endorsement.

Welch’s legal team maintains that she had no visibility into the inner workings of the project. They stressed that the centralization of token ownership and the questionable market activity were not apparent to her at the time. “Haliey was siloed from the project and had no control or insight into its operations,” they stated.

Despite her limited involvement, Welch has faced intense criticism, especially from investors who trusted her endorsement of the project. Many of them were new to the world of cryptocurrency and felt misled by her influence.

Legal Battle and Efforts to Repair Image

While Welch is not named in the lawsuit, her public image has taken a significant hit. With the legal case ongoing, her team is working to address the damage and restore her reputation. Welch’s statement indicates her intention to clear her name and continue her career moving forward.

“I take full responsibility for my role in this, and I am committed to making things right,” Welch said in a follow-up post. “I am focused on assisting with the investigation and ensuring this situation is handled fairly.”

Meanwhile, Burwick Law, representing the affected investors, is continuing to build its case. The firm is actively encouraging other individuals who have suffered financial losses due to the $HAWK token’s collapse to come forward. The legal team is also working to hold those responsible for the project’s failure accountable.

What’s Next for the $HAWK Project and Haliey Welch?

As the investigation unfolds, many are left wondering what the future holds for the $HAWK memecoin and the individuals involved in its launch. While Welch has distanced herself from the financial aspects of the token, her association with the project is likely to remain a focal point in the ongoing lawsuit.

For now, Welch’s public apology and commitment to cooperation seem to be part of an effort to salvage her reputation in the crypto community. How successful she will be in this endeavor remains to be seen, as the legal proceedings continue to unfold.

The controversy surrounding the $HAWK token serves as a cautionary tale about the risks of celebrity endorsements in the world of cryptocurrency. As the case progresses, it will likely serve as a key example of how influencer involvement in crypto projects can come under legal scrutiny, particularly when investors suffer significant losses.

Stay tuned for updates as the legal battle continues and new developments emerge in the $HAWK memecoin saga.