Haliey Welch, popularly known as “Hawk Tuah Girl,” has defended herself against accusations of orchestrating a “rug pull” with her cryptocurrency, $HAWK, which plummeted in value shortly after launch. During a Twitter livestream, Welch denied allegations that her team had sold off tokens to profit at investors’ expense, claiming they hadn’t sold a single coin. She attributed the crash to “snipers” exploiting high transaction fees at launch and insisted her team tried to prevent such activity.
Critics, including prominent YouTuber Stephen “Coffeezilla,” disputed her claims, accusing Welch’s team of insider trading and profiting while fans lost significant amounts. One investor reported losing their life savings and children’s college fund, claiming the coin’s value dropped from $35,000 to just $2,000 within minutes. Coffeezilla described the launch as “one of the most miserable” he had seen, alleging over $1 million in fees was generated during the process.
Social media users have called for Welch to face legal action, with many accusing her of deliberately misleading her followers. Welch, however, continues to reject claims of foul play, asserting that her team acted responsibly during the launch.
The controversy highlights the volatility and risks of influencer-backed cryptocurrencies, as well as the importance of thorough vetting before investing in such ventures. Despite her defense, Welch’s reputation has taken a significant hit, with fans and critics alike demanding accountability.
