Hawk Tuah Cryptocurrency Scam Explained: Internet Sensation Haliey Welch's Memecoin 'Hawk' Controversy and Lawsuit, Latest Controversies Explained

Riding on Haliey Welch's Hawk Tuah fame, a memecoin named $Hawk was launched. The coin started off on a high note, rising to a market value of USD 500

Haliey Welch, who became an internet sensation earlier this year, has found herself in the midst of a cryptocurrency scam and a lawsuit. Here's a closer look at the controversy and the latest on the legal proceedings.

After her cheeky and risqué answer during a street interview went viral earlier this year, Haliey Welch became an online sensation. In no time, she went from a small-town girl to a well-known name across the globe. She came to be known as the ‘Hawk Tuah’ girl, with the term ‘Hawk Tuah’ trending online for months. Since then, Haliey has come a long way, launching her own podcast, joining the streaming platform Kick, attending global conferences, and judging a bikini contest, among other things. However, she now finds herself in hot water over a cryptocurrency scam that has led to a lawsuit. But what exactly is the controversy and lawsuit about? We explain all the details here.

Hawk Tuah Girl Haliey Welch’s Memecoin ‘Hawk’: Cryptocurrency Scam, Potential Lawsuits and Death Hoax, Internet Sensation’s Latest Controversies Explained

Hawk Tuah Cryptocurrency Scam Explained

Riding on Haliey Welch’s Hawk Tuah fame, a memecoin named $Hawk was launched. The coin started off on a high note, rising to a market value of USD 500 million before plummeting to USD 60 million, all within just 20 minutes. Due to the sudden turn of events, Haliey faced backlash and criticism, with many accusing her of shady practices and suspicious activities, including insider trading, wallet manipulation, and planning a pump-and-dump scheme. Post this incident, she was threatened with a lawsuit and legal action.

Hawk Tuah Cryptocurrency Lawsuit Explained

Investors in the HAWK memcoin have filed a lawsuit in a New York federal court, demanding over USD 1,50,000 in damages. They claim they lost thousands on the coin, which they say was an illegal, unregistered security. The lawsuit accuses the creators of using Haliey Welch’s social media following to promote the cryptocurrency project while ignoring the US securities laws. It also alleges that they made no effort to limit sales to buyers outside the US, making the promotion and sale of the coin illegal.

According to reports, Haliey did not lead or create the project. Instead, she was only a paid spokesperson who received a sponsorship fee to lend her image to the team behind the memecoin. Despite her public connection with the memecoin, Haliey has not been named as a defendant in the lawsuit.

Hawk Tuah Girl, aka Haliey Welch, Response to Lawsuit

Haliey has finally spoken out about the lawsuit and, in her response, says that she is taking the situation extremely seriously. Addressing her fans and the investors who have been affected, Haliey states that she is fully cooperating with and is committed to assisting the legal team representing the individuals impacted, as well as helping to uncover the truth, hold the responsible parties accountable, and resolve the matter.

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Haliey Welch Responds About Lawsuit

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…

— Haliey Welch (@HalieyWelchX) December 20, 2024

In the recent past, Haliey has been caught up in several controversies, including a death hoax, which have been damaging her reputation. Her association with the cryptocurrency scam has only added to the negativity. The latest issue is the lawsuit, but she appears to be cooperating to help resolve the matter.

(The above story first appeared on LatestLY on Dec 23, 2024 10:36 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).