A woman known as the “Hawk Tuah Girl” is now facing accusations that her cryptocurrency, which launched Wednesday, was part of a so-called pump and dump scam.
Haliey Welch went viral after a social media video containing an off-the-cuff sex tip boosted her to internet fame.
Welch quit her job at a spring factory after the video took off, launched a podcast and made endorsement deals off her viral image.
Welch has also become involved in the world of cryptocurrency, including Bitcoin. That led to the launch of her own cryptocurrency, a meme coin based on her own viral success.
However, despite this wave of success, Welch could find herself in hot water due to her memecoin.
She’s now facing allegations of being involved in a rug pull scam, which raises serious ethical and legal questions. This could very well turn into a hawkshank redemption story.
Is Haliey Welch going to jail?
Bankrate defines a rug pull scheme as “where a cryptocurrency or NFT developer hypes a project to attract investor money, only to suddenly shut down or disappear, taking investor assets with them.”
In Haliey Welch’s situation, she was actively promoting $HAWK and permitted the Solana cryptocurrency platform to use her image for its marketing.
However, shortly after the launch, the value of the coin dropped dramatically.
Given that the cryptocurrency space is still largely unregulated, it’s uncertain whether Welch will face jail time for her actions.
She quickly turned to social media to address the situation, asserting in a post on X that neither she nor her team sold any tokens at launch.
Nevertheless, some investors have already filed complaints with the U.S. Securities Exchange Commission, which has previously taken legal action against cryptocurrency firms involved in fraudulent practices like rug pulls.
If Welch is found guilty of fraud, she could face felony charges that might result in several years in prison, along with a felony record that would make her life significantly more challenging.
People are turning against the Hawk Tuah Girl.
If you check out Haliey Welch’s various social media platforms, you’ll notice the comment sections are packed with people who suspect the Hawk Tuah Girl is scamming them.
Under a reel posted just a day before her memecoin launched, several users joked that Welch needs to “talk tuah lawyer.”
One commenter warned, “Get a legal team now Hailey, your coin situation is not gonna end well.”
As of December 7, 2024, the pinned post on Welch’s X (formerly Twitter) account is asking people to drop their Solana Wallets so she can distribute memecoins.
The replies are filled with warnings from users who flagged this as a scam even before $HAWK launched.
On November 28, @MicahJanke commented, “Haliey I heard you got new coins, hope you aren’t planning to rug pull us. I have my life savings invested.”
Olekanma Favour is a resourceful, self-motivated, and result-driven writer with a passion for crafting compelling narratives and insightful content. She loves tackling complex topics and weaving engaging stories.
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