One YouTuber has 'exposed' Hawk Tuah girl after her crypto coin went disastrously wrong.
It was all going so well for Haliey "Hawk Tuah Girl" Welch, with a popular podcast, AI-powered dating app, and even her own memecoin. Unfortunately for Welch, her latest episode of the Talk Tuah podcast with Brooke Schofield being called "How To Avoid Getting Cancelled" might come back to bite her in the backside.
Just days after launching her $HAWK memecoin and watching it implode within 20 minutes, there are mounting legal filings and plenty of jokes about her needing to talk 'tuah' judge. For those questioning what happened and what a 'pump and dump' crypto scam is, one cryptocurrency expert is here to (hopefully) dumb it down for us all.
In just a matter of minutes, $HAWK plummeted from a high of $490 million to just $41 million, with some claiming they've lost their life savings by investing in the Welch-faced memecoin.
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There have been some pretty vocal critics, and among them is crypto investigator Stephen Findeisen, aka Coffeezilla. $HAWK was backed by overHere, and in a heated X space, Coffeezilla confronted the team about what happened while Welch largely stayed quiet at the sidelines.
Claiming that Welch and her team 'scammed' $HAWK investors, an angry Coffeezilla explained: "This is one of the most miserable, horrible launches I’ve ever seen. I’ve been tracing it on the chain for a while. You guys generated over a million dollars in fees, while your fans got rug pulled. There were snipers, but there was also insider trading directly linked to y’all’s creator accounts."
Following this up in a YouTube video that breaks down what he thinks happened, Coffeezilla added: "I want to start with this big tweet that kind of set it all off. That would be this tweet by Bubblemaps, which showed that 96 percent of the supply was controlled by the team and was being sent out to a bunch of smaller wallets.
“The implication being that some of them might be dumping on you."
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The idea is that $HAWK's spectacular plummet can be attributed to insider wallets and so-called snipers. These snipers buy up a massive supply at launch and then quickly sell. If Welch's team controls the supply, then it's unfair to 'genuine' investors. Cointelegraph points out how one wallet purchased 17.5% of $HAWK's supply, which was worth $993,000 at the time but sold for a profit of $1.3 million just two hours later.
Welch hasn't said much on the situation apart from posting a generic response reiterating the team's innocence. Coffeezilla continued: "Pretty quickly the Hawk Tuah girl came in to copy and paste what her team told her to say which said ‘Team hasn’t sold one token and 1 KOL was given 1 free token, we tried to stop snipers as best we could through high fees at the start of the launch.’”
Maintaining that Welch and the rest are 'lying by omission', Findeisen concluded: "They sold them to a bunch of investors with a presale and then those people were unlocked immediately upon launch.
“It is essentially a lie to say that her team didn’t sell tokens, well they pre-sold them and then those investors then dumped on your fans, that is the problem."
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Despite Welch's stock response saying that they tried to stop snipers and that the whole thing is legitimate, it's not looking good for the viral sensation.