At the end of a whirlwind year that saw her transform from a viral star to a business mogul, Haliey Welch, also known as the “Hawk Tuah Girl,” is facing backlash for promoting a memecoin that crashed.
Welch announced on Dec. 4 that $HAWK had gone live. About two weeks later, her investors, who lost a combined $151,000, filed a lawsuit against the memecoin’s sellers, alleging that they unlawfully sold securities that hadn’t been registered with the U.S. Securities and Exchange Commission.
On Friday, Welch posted a statement on X saying she is “committed to assisting the legal team representing individuals impacted.”
So, who is Haliey Welch?
Welch had her breakout moment in June, when she was approached on the street by content creator DeArius Marlow to name “one move in bed that makes a man go crazy every time.”
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“You gotta give ’em that ‘hawk tuah’ and spit on that thang,” Welch replied, mentioning the raunchy onomatopoeia that transformed into a viral phrase over the following weeks.
The original TikTok post has since generated 9.7 million views, but it has been reshared by other accounts so many times that numbers can’t capture the ubiquity of “hawk tuah.”
Since then, Welch has copyrighted the phrase, landed her own representation, left her day job, thrown the first pitch at a Mets game and inspired a costume at Spirit Halloween. She also started a podcast called “Talk Tuah,” launched an AI-powered dating app called “Pookie Tools” and, of course, lent her brand to the $HAWK memecoin.
What is a memecoin?
A memecoin is a form of cryptocurrency that was inspired by a meme. According to Coindesk, the virtual tokens represent an idea, and their value fluctuates based on the attention that idea receives. They surged in popularity since Elon Musk endorsed Dogecoin.
Memecoins are notoriously risky and volatile as an investment, and since they’re typically inspired by enthusiasm from online communities, they appeal to buyers mostly for entertainment purposes. Still, they offer an opportunity for early buyers to profit off of a meme craze.
What’s going on with $HAWK?
Shortly after the release of $HAWK on Dec. 4, the memecoin’s value skyrocketed, then quickly collapsed. Many who purchased it lost large amounts of money, according to a lawsuit filed on Dec. 19.
The investors are suing the Tuah the Moon Foundation, which collected funds from the $HAWK token; OverHere, the crypto team Welch partnered with and influencer Alex Larson Schultz, also known as Doc Hollywood, who promoted the memecoin online. Welch is not mentioned by name.
Mashable reported that sources close to Welch claim she received a sponsorship fee to promote the memecoin and brand it with her viral catchphrase, but she did not have a role in the creation or development of it. Some speculate that what happened might have been a cryptocurrency scam known as a “rug pull.”
How is Welch responding?
Welch and OverHere, the crypto team she partnered with, hosted a Dec. 5 Spaces stream on X, where listeners heavily criticized them. Before they provided answers about why $HAWK crashed, Welch apparently interrupted the stream. The audio from the interruption went viral on TikTok.
“Hey, guys!” she said on the stream.”I hate to interrupt you, Nick, but hello there. Anywho, I’m gonna go to bed and I’ll see you guys tomorrow.”
That was the last the internet heard from her until Dec. 20, when she posted a statement on X.
“I take this situation extremely seriously and want to address my fans, the investors who have been affected, and the broader community,” she wrote. “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.”
She urged those affected to contact a lawyer and provided a link to do so.
