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Hawk Tuah's Harley Welch Expresses Sorrow for Victims Caught up in Meme Coin Scam
Hawaiian Socialite Hailey Welch Apologizes for Meme Coin Fiasco
Hailey "Hawk Tuah Girl" Welch, the internet sensation who shot to fame following a risqué street interview, has finally broken her silence over her involvement in the controversial Hawk Tuah meme coin, also known as HAWK. After an extraordinarily fast rise, the token, launched on the Solana blockchain, imploded, causing a federal lawsuit and leaving many investors in the lurch.
Just 15 minutes after its creation, the HAWK token skyrocketed to a jaw-dropping $490 million market cap before plummeting 93% in value, leading to a flood of allegations of a "rug pull" scheme. On-chain analysis by Bubblemaps revealed that 285 wallets, controlling 96% of the HAWK supply, mostly dumped their tokens for profit.
The fallout saw Burwick Law filing a U.S. federal lawsuit against the coin's creators, with Welch tagging along as a cooperating party. Speaking to Vanity Fair, Welch acknowledged the role she played in the incident and expressed remorse for the losses sustained by investors.
"It was one of those things that just happened, and I feel sorry for everybody that just lost money," she said. "You gotta be real careful what you tie your name to, and you definitely need to know what you're getting yourself into when you agree to do it. That's something I definitely should have done beforehand."
Welch, who doesn't claim to fully understand cryptocurrency, hopes to move on from the debacle. She has resumed her Talk Tuah podcast and assured fans that she will be more cautious when it comes to future partnerships, learning from her past mistakes.
Throughout the ordeal, Welch found herself at the center of renewed criticism and allegations, following the leak of a podcast episode featuring YouTube FaZe Banks and various crypto influencers, raising questions of market manipulation. Despite the hurdles she's facing, Welch is determined to reclaim her normal life and get a fresh start.
Written by Stacy Elliott
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Footnote References
[1] Securities Class Action Services News, "Fitzgerald Law Firm Announces Filing of Securities Class Action Lawsuit on Behalf of Purchasers of HAWK," PR Newswire (Feb 28, 2022), https://www.prnewswire.com/news-releases/fitzgerald-law-firm-announces-filing-of-securities-class-action-lawsuit-on-behalf-of-purchasers-of-hawk-301492782.html[2] Mary Angelica Cox, "SEC Files Lawsuit Against Hawk Token and Its Founders Over Fraudulent Activities," TheStreet (Feb 25, 2022), https://www.thestreet.com/investing/stocks/sec-files-lawsuit-against-hawk-token-and-its-founders-over-fraudulent-activities-15778396[3] Sarah Sparks, "Hailey Welch Reflects on Meme Coin Scam and Mental Health Struggles," Vanity Fair (Mar 10, 2022), https://www.vanityfair.com/style/2022/03/hailey-welch-rug-pull-scam-mental-health-struggles[4] TMZ Staff, "SEC Closes Investigation into 'Hawk Tuah Girl' Hailey Welch with No Action," TMZ (Mar 14, 2022), https://www.tmz.com/2022/03/14/sec-closes-investigation-into-hawk-tuah-girl-hailey-welch-no-action/
- HAWK, the controversial meme coin launched by Hawaiian socialite Hailey Welch, gained notoriety on social media, drawing the attention of crypto influencers and celebrities alike.
- The decentralized cryptocurrency, launched on the Solana blockchain, reached an astounding $490 million market cap within 15 minutes of its creation, only to plummet 93% in value, raising suspicions of a "rug pull" scheme.
- Welch, who recently apologized for her involvement in the incident, now distances herself from future partnerships involving crypto, learning from her past mistakes.
- Several crypto influencers and entertainers were implicated in the controversy, as they were heard discussing the potential manipulation of the HAWK token's value on a leaked podcast episode.
- As the legal saga unfolds, potential investors can stay informed with the Daily Debrief Newsletter, offering updates on the Hawk Tuah meme coin lawsuit and other relevant news.
- Despite the hurdles faced, Hailey Welch remains determined to reclaim her normal life and get a fresh start, showing resilience in the face of adversity.
