00:00On-chain investigator CoffeeZilla has accused Hailey Welch and the Hawk meme coin team of
00:04scamming her fans.
00:06According to Bitcoinist, Welch's new token launch faced severe backlash after its value
00:10plummeted by 94 percent within 12 hours, leaving investors empty-handed.
00:16Hailey Welch is best known as a Hawktaw girl after going viral for saying the catchphrase
00:20during a street interview conducted by Tim & V TV.
00:24Since her viral moment, Welch has launched various projects, including a dating advice
00:28app, and the TalkTaw podcast.
00:30In October, Hailey Welch hinted at the possible launch of Hawk by posting on X, formerly Twitter,
00:35"'Good morning, X. I heard it's a meme supercycle."
00:38James Zafar, a well-regarded analyst at Bloomberg Intelligence, replied, only a matter of time
00:43before she launches a meme coin.
00:45A meme coin is a cryptocurrency named after characters, individuals, animals, artwork,
00:50or other elements, aiming to be humorous and lighthearted while attracting users by promising
00:55a fun community.
00:56Other meme coins include Dogecoin, popularized by Elon Musk, which officially launched on
01:01December 6, 2013, and attracted over a million visitors to the website in the first 30 days.
01:07On November 26, Welch announced a partnership with the Web3 platform OverHere to launch
01:12the Hawk meme coin on December 4, claiming it was set to redefine the crypto space.
01:17Hawk was officially launched at 5 p.m. Eastern on December 4, where its market capitalization
01:22rapidly soared to an impressive $500 million, but plummeted 88 percent within minutes as
01:27top holders dumped their tokens at the peak, causing a massive nosedive.
01:32On-chain investigator CoffeeZilla accused Welch and her team of insider trading and
01:37rug-pulling on X, saying,
01:38"'You guys generated over a million dollars in fees while your fans got rug-pulled.
01:43There were snipers, but there was also insider trading directly linked to your creator accounts.'"
01:48Welch has since posted on X with a response stating,
01:51"'We tried to stop snipers as best as we could through high fees,' which Newsweek
01:56says has since been dropped."
01:58Welch continued her claim by saying,
02:00"'The team hasn't sold one token, and not one influencer has given any free tokens.'"
02:05Welch's post has now been viewed over 4.8 million times, with many calling her out on
02:09what seems to allegedly be misinformation on her side, with one X user saying she should
02:14talk to a lawyer.
02:16Law firms are now soliciting clients who incurred losses from the token, with Burek Law urging
02:20affected investors to reach out to them if you lost money on Hawk.
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