Hock Tuah Girl’s Attorney Says She Didn’t Intend To Blow Up Fans After Crypto Crash

Hawk Tuah girl Haley Welch is facing a backlash as investors take legal action against her after wiping out nearly half a billion dollars of investor money since her $Hawk memecoin launch. Her fans said it was a textbook example of a pump and dump scheme where her team bought tokens, created a buying frenzy because she had a huge fan base thanks to her viral ‘Hock Tuah’ comment, and then sold the tokens.
$HAWK was launched on the blockchain platform Solana. The coin’s price surged 900 percent in early trading on Wednesday, taking $HAWK’s market capitalization to nearly half a billion dollars. After that, the price fell by 95 percent.
According to blockchain data analyst BubbleMaps, 96 percent of $HAWK was concentrated in a cluster of related wallets as of Wednesday afternoon, indicating a high level of coordination in these transactions.
Welch denied any wrongdoing and she and her team also appeared at an audio event on X Spaces. But they were surrounded by several investors who called it a scam and said they would file a lawsuit against Hayley Welch for defrauding her fans. Many YouTubers explain how the Hock Tuah girl actually cheated her fans who are new to crypto. Haley Welch’s attorney said she did not intend to provoke fans.
Crypto investigator Stephen Findeisen revealed that Hayley Welch was paid a $125,000 advance from an unspecified company to market the token and was to receive 50 percent of net revenue from the company after covering third-party expenses and development and launch costs.
“This is one of the most miserable, horrible launches I’ve ever seen in my life,” said Findison, who runs the popular Coffeezilla YouTube channel. “They sold 17% of tokens to insiders who had no lock-up period, while only releasing 3% to trade.”